Buck Wealth Strategies LLC Purchases 1,005 Shares of Public Storage (NYSE:PSA)

Buck Wealth Strategies LLC raised its holdings in Public Storage (NYSE:PSA - Free Report) by 41.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,418 shares of the real estate investment trust's stock after purchasing an additional 1,005 shares during the quarter. Buck Wealth Strategies LLC's holdings in Public Storage were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in Public Storage in the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage in the fourth quarter worth about $32,000. Opal Wealth Advisors LLC bought a new stake in Public Storage in the first quarter worth about $36,000. Millstone Evans Group LLC bought a new stake in Public Storage in the fourth quarter worth about $38,000. Finally, Parvin Asset Management LLC bought a new stake in Public Storage in the fourth quarter worth about $38,000. Institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSA. BMO Capital Markets lowered shares of Public Storage from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $340.00 to $325.00 in a research report on Friday. Evercore ISI lifted their target price on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. Scotiabank lifted their target price on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Bank of America lifted their target price on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Truist Financial upgraded shares of 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. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $338.15.

Public Storage Price Performance

Shares of NYSE:PSA opened at $290.12 on Friday. The company has a 50 day moving average of $298.53 and a 200 day moving average of $299.05. The stock has a market cap of $50.90 billion, a P/E ratio of 28.81, a P/E/G ratio of 4.20 and a beta of 0.89. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77.

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

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.14%. Public Storage's dividend payout ratio is currently 119.17%.

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.

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