International Private Wealth Advisors LLC Takes Position in Public Storage (NYSE:PSA)

International Private Wealth Advisors LLC acquired a new position in shares of Public Storage (NYSE:PSA - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,368 shares of the real estate investment trust's stock, valued at approximately $409,000.

Several other institutional investors have also recently modified their holdings of PSA. Farther Finance Advisors LLC raised its holdings in shares of Public Storage by 28.6% in the first quarter. Farther Finance Advisors LLC now owns 2,246 shares of the real estate investment trust's stock worth $671,000 after acquiring an additional 499 shares during the last quarter. Werlinich Asset Management LLC boosted its stake in shares of Public Storage by 0.9% during the first quarter. Werlinich Asset Management LLC now owns 6,055 shares of the real estate investment trust's stock valued at $1,812,000 after acquiring an additional 55 shares during the last quarter. Capital Investment Advisors LLC increased its position in Public Storage by 12.1% during the 1st quarter. Capital Investment Advisors LLC now owns 32,061 shares of the real estate investment trust's stock worth $9,596,000 after purchasing an additional 3,453 shares in the last quarter. Park Avenue Securities LLC raised its stake in Public Storage by 18.9% in the 1st quarter. Park Avenue Securities LLC now owns 3,725 shares of the real estate investment trust's stock valued at $1,115,000 after purchasing an additional 592 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new position in Public Storage in the 1st quarter valued at about $280,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Barclays decreased their target price on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Royal Bank of Canada cut their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Mizuho increased their price target on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Finally, Bank of America raised their price objective on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and an average price target of $339.25.

Public Storage Price Performance

Shares of Public Storage stock opened at $303.30 on Monday. The business's fifty day moving average price is $295.50 and its 200 day moving average price is $302.14. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $53.21 billion, a P/E ratio of 31.50, a PEG ratio of 4.91 and a beta of 0.89.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts' consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $4.03 EPS. The company's quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.96%. Public Storage's payout ratio is currently 119.17%.

About Public Storage

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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