Kingswood Wealth Advisors LLC Sells 1,856 Shares of Public Storage $PSA

Key Points

• Kingswood Wealth Advisors LLC significantly reduced its stake in Public Storage by 62.2%, selling 1,856 shares to end up with 1,128 shares valued at $331,000.
• Various large investors, including Retirement Planning Co of New England Inc. and Whitener Capital Management Inc., increased their holdings in Public Storage, indicating growing institutional interest, as 78.79% of the stock is owned by such investors.
• Public Storage declared a quarterly dividend of $3.00 per share, resulting in an annualized dividend of $12.00 and a yield of 4.1%, with a payout ratio of 130.86%.

Kingswood Wealth Advisors LLC reduced its stake in Public Storage (NYSE:PSA - Free Report) by 62.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,128 shares of the real estate investment trust's stock after selling 1,856 shares during the period. Kingswood Wealth Advisors LLC's holdings in Public Storage were worth $331,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Retirement Planning Co of New England Inc. boosted its holdings in shares of Public Storage by 1.6% in the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust's stock worth $624,000 after acquiring an additional 33 shares during the period. Shum Financial Group Inc. boosted its stake in Public Storage by 1.7% during the first quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock valued at $625,000 after buying an additional 35 shares during the period. Whitener Capital Management Inc. boosted its stake in Public Storage by 2.3% during the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust's stock valued at $472,000 after buying an additional 36 shares during the period. Mather Group LLC. boosted its stake in Public Storage by 4.6% during the second quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust's stock valued at $253,000 after buying an additional 38 shares during the period. Finally, Meeder Advisory Services Inc. boosted its stake in Public Storage by 1.1% during the first quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust's stock valued at $1,072,000 after buying an additional 39 shares during the period. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Scotiabank dropped their price objective on 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. UBS Group dropped their price objective on Public Storage from $305.00 to $295.00 and set a "neutral" rating for the company in a research note on Tuesday, September 16th. Royal Bank Of Canada dropped their price objective on 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. Wells Fargo & Company dropped their price objective on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Public Storage in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of "Moderate Buy" and an average target price of $322.92.

Public Storage Stock Up 0.1%

PSA opened at $294.19 on Friday. The company has a market cap of $51.62 billion, a P/E ratio of 32.08, a P/E/G ratio of 4.88 and a beta of 0.89. The business's 50-day moving average price is $287.61 and its 200-day moving average price is $291.49. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 12 month low of $256.60 and a 12 month high of $355.87.

Public Storage (NYSE:PSA - Get Free Report) last released 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. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued 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 was Monday, September 15th. Public Storage's payout ratio is currently 130.86%.

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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