Kingswood Wealth Advisors LLC Has $892,000 Holdings in Public Storage (NYSE:PSA)

Kingswood Wealth Advisors LLC lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 48.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,984 shares of the real estate investment trust's stock after purchasing an additional 980 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Public Storage were worth $892,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in shares of Public Storage in the fourth quarter worth $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Public Storage during the fourth quarter worth $32,000. Opal Wealth Advisors LLC acquired a new position in Public Storage during the first quarter worth $36,000. Millstone Evans Group LLC acquired a new position in Public Storage during the fourth quarter worth $38,000. Finally, Parvin Asset Management LLC acquired a new position in Public Storage during the fourth quarter worth $38,000. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of NYSE:PSA traded down $0.69 on Friday, hitting $290.12. The company had a trading volume of 1,419,993 shares, compared to its average volume of 748,783. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The stock has a market cap of $50.90 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 4.21 and a beta of 0.89. The stock has a 50 day moving average price of $298.53 and a 200 day moving average price of $299.30. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77.

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, beating the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the company earned $4.03 earnings per share. The company's quarterly revenue was up .1% on a year-over-year basis. Analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.14%. Public Storage's dividend payout ratio (DPR) is presently 119.17%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Evercore ISI boosted their target price on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Barclays lowered their target price on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a report on Thursday, April 10th. Finally, Royal Bank Of Canada lowered their target price on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Public Storage currently has an average rating of "Moderate Buy" and a consensus price target of $338.15.

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.