1,491 Shares in Public Storage (NYSE:PSA) Acquired by Capital Advisors Inc. OK

Capital Advisors Inc. OK purchased a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,491 shares of the real estate investment trust's stock, valued at approximately $446,000.

Several other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its position in Public Storage by 228.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 4,218 shares of the real estate investment trust's stock valued at $1,262,000 after buying an additional 2,935 shares during the period. Wayfinding Financial LLC purchased a new stake in Public Storage in the 1st quarter worth approximately $41,000. Catalyst Capital Advisors LLC lifted its holdings in Public Storage by 45.2% in the 1st quarter. Catalyst Capital Advisors LLC now owns 527 shares of the real estate investment trust's stock worth $158,000 after buying an additional 164 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its holdings in Public Storage by 33.8% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 2,923 shares of the real estate investment trust's stock worth $875,000 after buying an additional 738 shares during the period. Finally, IFM Investors Pty Ltd lifted its holdings in Public Storage by 4.2% in the 1st quarter. IFM Investors Pty Ltd now owns 71,381 shares of the real estate investment trust's stock worth $21,364,000 after buying an additional 2,864 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Down 1.5%

PSA stock opened at $291.90 on Tuesday. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. The firm has a market cap of $51.21 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 4.29 and a beta of 0.86. The business has a 50 day moving average of $298.91 and a 200 day moving average of $297.13.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the company earned $4.03 EPS. The firm's revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is presently 119.17%.

Analysts Set New Price Targets

Several research firms have weighed in on PSA. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Scotiabank increased their price objective on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. BNP Paribas Exane began coverage on Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price objective for the company. Mizuho increased their price objective on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Finally, Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $337.64.

Public Storage Company 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.

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