Capital Investment Advisors LLC Purchases 2,285 Shares of Public Storage $PSA

Key Points

• Capital Investment Advisors LLC increased its stake in Public Storage ($PSA) by 7.1%, acquiring an additional 2,285 shares to reach a total of 34,346 shares valued at approximately $10.08 million.
• Public Storage reported an EPS of $4.28 for the recent quarter, slightly exceeding analyst expectations, with a revenue of $1.20 billion, indicating a year-over-year revenue increase of 2.4%.
• The firm announced a quarterly dividend of $3.00 payable on September 30th, translating to an annualized dividend of $12.00 and a dividend yield of 4.2%.

Capital Investment Advisors LLC lifted its stake in Public Storage (NYSE:PSA - Free Report) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,346 shares of the real estate investment trust's stock after purchasing an additional 2,285 shares during the quarter. Capital Investment Advisors LLC's holdings in Public Storage were worth $10,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Public Storage by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock worth $6,206,046,000 after purchasing an additional 143,575 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Public Storage by 1.0% in the 1st quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust's stock worth $894,177,000 after purchasing an additional 30,775 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Public Storage by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust's stock worth $848,425,000 after purchasing an additional 34,718 shares in the last quarter. Northern Trust Corp boosted its position in shares of Public Storage by 2.8% in the 1st quarter. Northern Trust Corp now owns 2,546,478 shares of the real estate investment trust's stock worth $762,135,000 after purchasing an additional 69,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Public Storage by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust's stock worth $638,805,000 after purchasing an additional 12,204 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

Shares of PSA opened at $288.25 on Tuesday. The firm has a market cap of $50.57 billion, a PE ratio of 31.43, a P/E/G ratio of 4.75 and a beta of 0.86. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a fifty day simple moving average of $286.55 and a two-hundred day simple moving average of $291.63. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping the consensus estimate of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, September 15th. Public Storage's dividend payout ratio is 130.86%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PSA shares. Barclays dropped their price target on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wall Street Zen cut Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. lowered their price objective on Public Storage from $324.00 to $321.00 and set an "overweight" rating on the stock in a research report on Friday, September 12th. Royal Bank Of Canada lowered their price objective on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Finally, BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $340.00 to $325.00 in a research report on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $322.00.

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.

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.