Isthmus Partners LLC Buys 756 Shares of Public Storage (NYSE:PSA)

Isthmus Partners LLC increased its stake in shares of Public Storage (NYSE:PSA) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,848 shares of the real estate investment trust’s stock after acquiring an additional 756 shares during the quarter. Public Storage comprises approximately 4.5% of Isthmus Partners LLC’s holdings, making the stock its 11th largest holding. Isthmus Partners LLC’s holdings in Public Storage were worth $11,750,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Public Storage by 1.0% during the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock worth $6,075,681,000 after acquiring an additional 217,487 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after buying an additional 219,391 shares during the period. Norges Bank bought a new stake in Public Storage in the 4th quarter valued at $821,151,000. APG Asset Management US Inc. increased its holdings in Public Storage by 4.7% in the 4th quarter. APG Asset Management US Inc. now owns 2,074,617 shares of the real estate investment trust’s stock valued at $632,758,000 after buying an additional 93,122 shares during the period. Finally, Centersquare Investment Management LLC increased its holdings in Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after buying an additional 173,975 shares during the period. Institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $274.29, for a total transaction of $109,716.00. Following the transaction, the insider now owns 3,214 shares in the company, valued at approximately $881,568.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PSA. Barclays boosted their price target on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Wells Fargo & Company boosted their target price on shares of Public Storage from $310.00 to $320.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Citigroup boosted their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Evercore ISI boosted their target price on shares of Public Storage from $330.00 to $334.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.77.

Public Storage Trading Up 1.3 %

Public Storage stock traded up $4.46 during trading hours on Friday, reaching $345.63. 860,113 shares of the company’s stock traded hands, compared to its average volume of 712,997. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $60.74 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 5.69 and a beta of 0.67. The firm’s 50 day moving average is $313.10 and its 200-day moving average is $290.38. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $347.77.

Public Storage (NYSE:PSA) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The business had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. Public Storage’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $4.28 earnings per share. On average, analysts predict that Public Storage will post 16.72 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.47%. The ex-dividend date is Friday, September 13th. Public Storage’s dividend payout ratio is 108.99%.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.