NorthCrest Asset Manangement LLC Buys 1,887 Shares of Public Storage $PSA

NorthCrest Asset Manangement LLC grew its position in Public Storage (NYSE:PSA) by 169.7% in the third quarter, HoldingsChannel.com reports. The firm owned 2,999 shares of the real estate investment trust’s stock after acquiring an additional 1,887 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Public Storage were worth $880,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PSA. Harbor Asset Planning Inc. purchased a new stake in Public Storage during the 2nd quarter valued at approximately $25,000. First Pacific Financial bought a new position in shares of Public Storage in the 3rd quarter valued at about $26,000. Asset Dedication LLC boosted its holdings in shares of Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the period. NewSquare Capital LLC boosted its stake in Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 40 shares during the period. Finally, Tradewinds Capital Management LLC purchased a new position in shares of Public Storage during the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 1.4%

Shares of NYSE:PSA opened at $289.04 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. The business has a 50 day moving average of $271.17 and a two-hundred day moving average of $282.43. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49. The company has a market capitalization of $50.71 billion, a PE ratio of 30.01, a PEG ratio of 6.97 and a beta of 1.01.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $4.20 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.2%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Analyst Ratings Changes

Several equities analysts have commented on PSA shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $301.00 price objective (down previously from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Morgan Stanley assumed coverage on shares of Public Storage in a report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective on the stock. BMO Capital Markets reduced their target price on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a report on Monday, December 22nd. Raymond James Financial reduced their price target on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 18th. Finally, Mizuho decreased their price objective on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $313.19.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.