AE Wealth Management LLC Has $466,000 Stock Holdings in Public Storage (NYSE:PSA)

Key Points

• AE Wealth Management LLC has reduced its holdings in Public Storage (NYSE:PSA) by 35.6%, now owning 1,557 shares valued at approximately $466,000.
• Analysts have mixed views on Public Storage, with a recent price target ranging from $308 to $380, and an overall average rating of "Moderate Buy."
• Public Storage announced a quarterly dividend of $3.00, resulting in an annualized dividend yield of 4.10%, indicating a high payout ratio of 119.17%.

AE Wealth Management LLC lessened its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 35.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,557 shares of the real estate investment trust's stock after selling 859 shares during the period. AE Wealth Management LLC's holdings in Public Storage were worth $466,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in shares of Public Storage during the fourth quarter valued at $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Public Storage in the 4th quarter valued at approximately $32,000. Opal Wealth Advisors LLC acquired a new stake in Public Storage in the 1st quarter valued at approximately $36,000. Parvin Asset Management LLC acquired a new stake in Public Storage in the 4th quarter valued at approximately $38,000. Finally, Wayfinding Financial LLC acquired a new stake in Public Storage in the 1st quarter valued at approximately $41,000. Institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Evercore ISI lifted their target price on Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. BMO Capital Markets downgraded Public Storage from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a research note on Thursday, April 10th. Finally, Wall Street Zen downgraded Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $335.57.

Public Storage Stock Performance

NYSE:PSA traded up $7.40 during mid-day trading on Friday, hitting $279.34. 1,539,812 shares of the stock were exchanged, compared to its average volume of 910,449. The stock has a market capitalization of $49.00 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 3.97 and a beta of 0.86. The firm's 50-day simple moving average is $293.33 and its 200 day simple moving average is $295.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.55 and a current ratio of 1.77. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $4.23 EPS. As a group, equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Thursday, June 12th were issued a $3.00 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.3%. Public Storage's payout ratio is currently 130.86%.

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.