HGI Capital Management LLC Invests $3.16 Million in Public Storage $PSA

Key Points

• HGI Capital Management LLC has acquired a new position in Public Storage, purchasing 10,572 shares valued at approximately $3.16 million, which now constitutes about 3.9% of their holdings.
• Public Storage's stock price opened at $291.42, with a market capitalization of $51.13 billion, and reported a quarterly revenue of $1.20 billion with earnings per share of $4.28.
• The company recently announced a quarterly dividend of $3.00 per share, translating to an annualized dividend of $12.00, resulting in a yield of 4.1%.

HGI Capital Management LLC purchased a new position in Public Storage (NYSE:PSA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,572 shares of the real estate investment trust's stock, valued at approximately $3,164,000. Public Storage comprises about 3.9% of HGI Capital Management LLC's portfolio, making the stock its 15th largest position.

Other large investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in Public Storage in the 4th quarter worth $30,000. Spectrum Wealth Counsel LLC bought a new stake in Public Storage in the 1st quarter worth $30,000. Opal Wealth Advisors LLC bought a new stake in Public Storage in the 1st quarter worth $36,000. Parvin Asset Management LLC bought a new stake in Public Storage in the 4th quarter worth $38,000. Finally, Wayfinding Financial LLC bought a new stake in Public Storage in the 1st quarter worth $41,000. Institutional investors own 78.79% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Wells Fargo & Company cut their target price on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Scotiabank cut their target price on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a research note on Thursday. Mizuho lifted their target price 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. Finally, Royal Bank Of Canada cut their target price on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and an average price target of $331.62.

Public Storage Stock Up 1.0%

NYSE:PSA traded up $3.05 during mid-day trading on Friday, hitting $294.72. 519,329 shares of the company's stock were exchanged, compared to its average volume of 699,588. Public Storage has a one year low of $256.60 and a one year high of $369.99. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The business has a fifty day moving average price of $287.69 and a 200 day moving average price of $294.09. The company has a market cap of $51.71 billion, a PE ratio of 32.14, a P/E/G ratio of 4.89 and a beta of 0.86.

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. 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 for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $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. Equities analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage's payout ratio is presently 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.