Chatham Capital Group Inc. Reduces Stock Position in Public Storage $PSA

Chatham Capital Group Inc. lessened its position in Public Storage (NYSE:PSA) by 20.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,048 shares of the real estate investment trust’s stock after selling 2,118 shares during the period. Chatham Capital Group Inc.’s holdings in Public Storage were worth $2,325,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Retirement Planning Co of New England Inc. boosted its holdings in shares of Public Storage by 1.6% during the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after purchasing an additional 33 shares during the period. Whitener Capital Management Inc. raised its position in Public Storage by 2.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 36 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Public Storage by 9.5% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 36 shares during the period. Patrick M Sweeney & Associates Inc. grew its position in shares of Public Storage by 3.5% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 36 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of Public Storage by 4.6% during the second quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PSA shares. Wells Fargo & Company lifted their price target on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research note on Monday, October 13th. Truist Financial lowered their price objective on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their target price on Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $319.87.

Public Storage Trading Down 0.8%

Public Storage stock opened at $259.38 on Wednesday. Public Storage has a 12 month low of $256.60 and a 12 month high of $322.49. The company has a market capitalization of $45.51 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 5.60 and a beta of 1.01. The business’s fifty day simple moving average is $278.76 and its two-hundred day simple moving average is $285.60. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99.

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

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.6%. Public Storage’s payout ratio is 124.61%.

About Public Storage

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.