Doliver Advisors LP Buys 1,448 Shares of Public Storage $PSA

Key Points

• Doliver Advisors LP increased its stake in Public Storage by 92.2%, purchasing an additional 1,448 shares, bringing its total ownership to 3,019 shares valued at approximately $886,000.
• Several research firms have adjusted their price targets for Public Storage, with Wall Street Zen downgrading the stock from "hold" to "sell," while Mizuho raised its target from $287 to $309.
• The company recently announced a quarterly dividend of $3.00 per share, reflecting an annualized yield of 4.1%, with a dividend payout ratio currently at 130.86%.

Doliver Advisors LP boosted its stake in Public Storage (NYSE:PSA - Free Report) by 92.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,019 shares of the real estate investment trust's stock after purchasing an additional 1,448 shares during the period. Doliver Advisors LP's holdings in Public Storage were worth $886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new position in Public Storage in the 4th quarter valued at approximately $30,000. Spectrum Wealth Counsel LLC bought a new position in Public Storage in the 1st quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new position in Public Storage in the 1st quarter valued at approximately $36,000. Wayfinding Financial LLC bought a new position in Public Storage in the 1st quarter valued at approximately $41,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Public Storage in the 4th quarter valued at approximately $43,000. Institutional investors own 78.79% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PSA. Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada dropped their price target on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Scotiabank dropped their price target on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating for the company in a research note on Thursday, August 28th. Barclays dropped their price target on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Mizuho raised their price target on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $331.62.

Public Storage Price Performance

Shares of NYSE PSA opened at $292.71 on Friday. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The firm has a fifty day simple moving average of $287.40 and a 200 day simple moving average of $293.56. The company has a market capitalization of $51.36 billion, a PE ratio of 31.92, a P/E/G ratio of 4.90 and a beta of 0.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

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

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Public Storage's dividend payout ratio (DPR) is currently 130.86%.

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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