Massachusetts Financial Services Co. MA Has $247.20 Million Stock Holdings in Public Storage $PSA

Massachusetts Financial Services Co. MA decreased its holdings in Public Storage (NYSE:PSA) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 855,805 shares of the real estate investment trust’s stock after selling 15,758 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Public Storage were worth $247,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Harbor Asset Planning Inc. acquired a new stake in shares of Public Storage in the 2nd quarter valued at $25,000. First Pacific Financial acquired a new position in shares of Public Storage during the third quarter worth $26,000. Asset Dedication LLC raised its position in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 50 shares during the last quarter. NewSquare Capital LLC raised its holdings in Public Storage by 60.6% during the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 40 shares during the last quarter. Finally, Tradewinds Capital Management LLC bought a new position in Public Storage during the third quarter worth $33,000. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PSA shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $301.00 price target (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a research note on Monday, October 13th. UBS Group cut their target price on Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Wells Fargo & Company upped their price target on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Morgan Stanley began coverage on shares of Public Storage in a report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $315.56.

Public Storage Price Performance

PSA opened at $294.29 on Tuesday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $322.49. The firm has a 50-day moving average of $270.74 and a 200 day moving average of $282.46. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market cap of $51.64 billion, a P/E ratio of 30.56, a PEG ratio of 7.16 and a beta of 1.01.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 company earned $4.20 earnings per share. The company’s quarterly 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. On average, research analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, December 15th. Public Storage’s dividend payout ratio is 124.61%.

Public Storage Company 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.