Planning Directions Inc. Purchases New Holdings in Public Storage (NYSE:PSA)

Planning Directions Inc. purchased 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 firm purchased 936 shares of the real estate investment trust's stock, valued at approximately $280,000.

A number of other large investors have also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Public Storage by 30.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust's stock worth $40,926,000 after acquiring an additional 31,662 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Public Storage by 12.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock worth $13,240,000 after purchasing an additional 4,746 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Public Storage by 9.7% during the first 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 period. Asset Management One Co. Ltd. lifted its holdings 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 during the period. Finally, Summit Trail Advisors LLC boosted its position 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. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of Public Storage stock traded down $4.42 on Monday, hitting $291.90. The company's stock had a trading volume of 849,727 shares, compared to its average volume of 752,398. The company has a market capitalization of $51.21 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 4.29 and a beta of 0.86. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a fifty day moving average price of $298.90 and a 200-day moving average price of $297.17.

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 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 analysts' expectations 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 was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.03 earnings per share. As a group, sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho increased their price target on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. BMO Capital Markets lowered shares of Public Storage from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $340.00 to $325.00 in a research note on Friday, June 20th. Barclays reduced their target price on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Evercore ISI upped their price target on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada cut their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.