Kera Capital Partners Inc. Takes $283,000 Position in Public Storage $PSA

Key Points

• Kera Capital Partners Inc. has acquired a new stake in Public Storage, purchasing 966 shares valued at approximately $283,000.
• Public Storage reported earnings of $4.28 per share for the last quarter, slightly exceeding analysts’ expectations, and announced a quarterly dividend of $3.00 per share, representing a yield of 4.1%.
• Recent analyst ratings show mixed opinions on Public Storage, with one analyst giving a Strong Buy rating and several others adjusting their price objectives downward.

Kera Capital Partners Inc. purchased a new stake in shares of Public Storage (NYSE:PSA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 966 shares of the real estate investment trust's stock, valued at approximately $283,000.

Other institutional investors have also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in shares of Public Storage during the 4th quarter valued at $30,000. Spectrum Wealth Counsel LLC purchased a new position in shares of Public Storage during the 1st quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage during the 1st quarter worth about $36,000. Wayfinding Financial LLC purchased a new stake in Public Storage during the 1st quarter worth about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Public Storage during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PSA. Royal Bank Of Canada dropped their price objective on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. BNP Paribas raised Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Scotiabank dropped their price objective on Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 28th. Barclays dropped their price objective on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Wall Street Zen lowered Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $331.62.

Public Storage Price Performance

Shares of NYSE PSA opened at $292.71 on Friday. The firm has a market capitalization of $51.36 billion, a P/E 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. The stock's 50-day simple moving average is $287.40 and its two-hundred day simple moving average is $293.48. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99.

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

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued 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 dividend yield of 4.1%. Public Storage's dividend payout ratio (DPR) is currently 130.86%.

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.

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