Carnegie Investment Counsel Purchases 21,073 Shares of Public Storage $PSA

Carnegie Investment Counsel increased its holdings in shares of Public Storage (NYSE:PSA) by 23.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 112,769 shares of the real estate investment trust’s stock after buying an additional 21,073 shares during the quarter. Carnegie Investment Counsel’s holdings in Public Storage were worth $32,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Public Storage in the second quarter worth about $1,153,971,000. AQR Capital Management LLC grew its position in shares of Public Storage by 498.7% in the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after purchasing an additional 481,872 shares during the period. Goldman Sachs Group Inc. increased its stake in Public Storage by 68.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock worth $348,670,000 after purchasing an additional 475,342 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Public Storage during the 2nd quarter worth approximately $94,297,000. Finally, 1832 Asset Management L.P. raised its holdings in Public Storage by 375.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 389,169 shares of the real estate investment trust’s stock worth $114,190,000 after buying an additional 307,357 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PSA shares. BMO Capital Markets lowered their price objective on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Evercore ISI lowered their target price on Public Storage from $315.00 to $309.00 and set an “in-line” rating for the company in a report on Monday, December 1st. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Raymond James Financial cut their price target on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.80.

Public Storage Stock Down 0.5%

Public Storage stock opened at $260.69 on Friday. 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 has a 1-year low of $256.60 and a 1-year high of $322.49. The company has a fifty day simple moving average of $276.15 and a 200 day simple moving average of $284.98. The company has a market cap of $45.74 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 5.62 and a beta of 1.01.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping 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 firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm posted $4.20 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Research analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $3.00 per share. 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 dividend payout ratio is 124.61%.

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.