Advisors Preferred LLC Makes New Investment in Public Storage (NYSE:PSA)

Advisors Preferred LLC purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,900 shares of the real estate investment trust's stock, valued at approximately $568,000.

Other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in shares of Public Storage during the 4th quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Public Storage during the 4th quarter worth about $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the 1st quarter worth about $36,000. Parvin Asset Management LLC acquired a new position in shares of Public Storage during the 4th quarter worth about $38,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Public Storage during the 1st quarter worth about $41,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BNP Paribas Exane assumed coverage on Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price for the company. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a research report on Thursday, April 10th. BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Mizuho increased their price objective on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Finally, BNP Paribas raised Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $336.93.

Public Storage Trading Up 0.1%

Shares of NYSE:PSA traded up $0.39 during midday trading on Friday, reaching $287.70. The company's stock had a trading volume of 674,373 shares, compared to its average volume of 886,742. The firm has a market cap of $50.47 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 4.19 and a beta of 0.86. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The business has a 50 day moving average price of $295.05 and a 200 day moving average price of $296.05.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts' consensus estimates 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%. The business's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.03 earnings per share. Research analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Thursday, June 12th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, June 12th. Public Storage's dividend payout ratio is currently 119.17%.

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.