Asset Planning Services Inc. LA ADV Has $5.79 Million Stake in Public Storage (NYSE:PSA)

Asset Planning Services Inc. LA ADV increased its stake in shares of Public Storage (NYSE:PSA) by 1.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,348 shares of the real estate investment trust’s stock after acquiring an additional 360 shares during the period. Public Storage accounts for about 0.1% of Asset Planning Services Inc. LA ADV’s holdings, making the stock its 21st largest position. Asset Planning Services Inc. LA ADV’s holdings in Public Storage were worth $5,791,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Family Legacy Inc. grew its holdings in Public Storage by 2.0% in the 1st quarter. Family Legacy Inc. now owns 3,202 shares of the real estate investment trust’s stock valued at $958,000 after buying an additional 62 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Public Storage by 1.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust’s stock valued at $92,960,000 after buying an additional 3,627 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Public Storage by 12.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,131 shares of the real estate investment trust’s stock valued at $2,434,000 after buying an additional 879 shares during the last quarter. Continuum Advisory LLC grew its holdings in Public Storage by 15.2% in the 1st quarter. Continuum Advisory LLC now owns 636 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 84 shares during the last quarter. Finally, XML Financial LLC grew its holdings in Public Storage by 4.1% in the 1st quarter. XML Financial LLC now owns 9,054 shares of the real estate investment trust’s stock valued at $2,710,000 after buying an additional 357 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA stock opened at $295.84 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $51.90 billion, a P/E ratio of 29.38, a P/E/G ratio of 4.26 and a beta of 0.89. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The stock has a 50 day moving average of $298.80 and a two-hundred day moving average of $298.53.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping the consensus estimate of $4.06 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. Public Storage’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $4.03 EPS. As a group, equities analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. Public Storage’s dividend payout ratio (DPR) is presently 119.17%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BMO Capital Markets lowered Public Storage from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $340.00 to $325.00 in a report on Friday, June 20th. Mizuho raised their target price on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a report on Wednesday, May 28th. Evercore ISI raised their target price on Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a report on Friday, May 2nd. Royal Bank Of Canada reduced their price objective on Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Finally, Scotiabank raised their price objective on Public Storage from $305.00 to $340.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 12th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $337.64.

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.