Moloney Securities Asset Management LLC Takes Position in Public Storage (NYSE:PSA)

Moloney Securities Asset Management LLC acquired a new position in Public Storage (NYSE:PSA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,843 shares of the real estate investment trust's stock, valued at approximately $1,449,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in Public Storage in the fourth quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage in the fourth quarter valued at $32,000. Opal Wealth Advisors LLC bought a new stake in Public Storage in the first quarter valued at $36,000. Millstone Evans Group LLC bought a new stake in Public Storage in the fourth quarter valued at $38,000. Finally, Parvin Asset Management LLC bought a new stake in Public Storage in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Up 0.3%

Shares of Public Storage stock traded up $0.92 during trading on Friday, hitting $289.76. 783,690 shares of the stock traded hands, compared to its average volume of 790,915. The stock has a market cap of $50.83 billion, a P/E ratio of 28.77, a PEG ratio of 4.18 and a beta of 0.86. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.55 and a current ratio of 0.55. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a fifty day moving average price of $298.40 and a two-hundred day moving average price of $296.96.

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

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were issued a $3.00 dividend. The ex-dividend date was Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.14%. Public Storage's dividend payout ratio (DPR) is currently 119.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada cut their target price on Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Barclays cut their price objective on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Evercore ISI lifted their price objective on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Finally, BNP Paribas Exane assumed coverage on Public Storage in a report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. 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. According to data from MarketBeat.com, the stock 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.