Cwm LLC Lowers Position in Public Storage $PSA

Cwm LLC decreased its stake in shares of Public Storage (NYSE:PSA) by 42.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,410 shares of the real estate investment trust’s stock after selling 42,270 shares during the period. Cwm LLC’s holdings in Public Storage were worth $16,294,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Public Storage by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 20,815,476 shares of the real estate investment trust’s stock worth $6,107,677,000 after buying an additional 79,580 shares during the last quarter. State Street Corp grew its position in Public Storage by 1.2% during the second quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock valued at $3,114,303,000 after acquiring an additional 126,113 shares during the period. Norges Bank purchased a new stake in Public Storage during the second quarter valued at about $1,153,971,000. JPMorgan Chase & Co. lifted its stake in shares of Public Storage by 3.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,157,067 shares of the real estate investment trust’s stock valued at $926,357,000 after purchasing an additional 103,965 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Public Storage by 3.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,924,395 shares of the real estate investment trust’s stock worth $857,674,000 after purchasing an additional 87,918 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of Public Storage stock opened at $260.69 on Friday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45. Public Storage has a 1 year low of $256.60 and a 1 year high of $322.49. The firm’s 50-day simple moving average is $276.15 and its 200-day simple moving average is $284.84. The firm has a market cap of $45.74 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 5.58 and a beta of 1.01.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The business 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 for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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

Analyst Ratings Changes

PSA has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Public Storage from $295.00 to $293.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. BMO Capital Markets dropped their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a report on Monday, December 22nd. 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. Royal Bank Of Canada dropped their price objective on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research note on Friday, October 31st. Finally, Raymond James Financial decreased their target price on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 18th. Two 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $317.80.

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.