Advisory Alpha LLC Increases Stake in Public Storage $PSA

Advisory Alpha LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 4.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,751 shares of the real estate investment trust’s stock after buying an additional 72 shares during the quarter. Advisory Alpha LLC’s holdings in Public Storage were worth $524,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Public Storage by 12.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust’s stock worth $13,240,000 after acquiring an additional 4,746 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Public Storage by 9.7% during the 1st quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust’s stock worth $517,000 after purchasing an additional 152 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Public Storage by 1.2% during the first quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust’s stock worth $92,960,000 after purchasing an additional 3,627 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Public Storage by 228.1% during the first quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust’s stock worth $640,000 after purchasing an additional 1,487 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in Public Storage by 43.3% in the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust’s stock valued at $1,083,000 after buying an additional 1,093 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $289.06 on Thursday. The company’s 50 day simple moving average is $287.49 and its 200-day simple moving average is $293.72. The firm has a market cap of $50.71 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 4.82 and a beta of 0.86. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. Public Storage’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, September 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 currently 130.86%.

Analyst Ratings Changes

A number of analysts have issued reports on PSA shares. BNP Paribas raised Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. Wells Fargo & Company decreased their target price on Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Barclays lowered their price target on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Scotiabank cut their price objective on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. Finally, BNP Paribas Exane started coverage on shares of Public Storage in a report on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $331.62.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.