Little House Capital LLC Acquires Shares of 9,224 Public Storage (NYSE:PSA)

Little House Capital LLC acquired a new stake in shares of Public Storage (NYSE:PSA - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,224 shares of the real estate investment trust's stock, valued at approximately $2,761,000.

Several other large investors have also bought and sold shares of the stock. Shum Financial Group Inc. lifted its stake in Public Storage by 1.7% during the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock valued at $625,000 after acquiring an additional 35 shares in the last quarter. Lido Advisors LLC increased its position in shares of Public Storage by 0.9% during the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock valued at $1,287,000 after purchasing an additional 39 shares during the last quarter. Integrated Advisors Network LLC increased its position in shares of Public Storage by 1.4% during the 4th quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust's stock valued at $918,000 after purchasing an additional 41 shares during the last quarter. Atlas Brown Inc. increased its position in shares of Public Storage by 2.1% during the 1st quarter. Atlas Brown Inc. now owns 2,176 shares of the real estate investment trust's stock valued at $651,000 after purchasing an additional 45 shares during the last quarter. Finally, CVA Family Office LLC increased its position in shares of Public Storage by 24.6% during the 1st quarter. CVA Family Office LLC now owns 238 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 47 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PSA shares. BNP Paribas raised Public Storage to a "strong-buy" rating in a research report on Tuesday. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a research note on Thursday, April 10th. Mizuho boosted their price objective on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Bank of America boosted their price objective on Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Barclays lowered their price objective on Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $337.64.

Public Storage Stock Up 0.5%

Shares of NYSE PSA opened at $290.00 on Friday. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $50.87 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 4.17 and a beta of 0.89. The business has a 50-day moving average of $298.55 and a 200-day moving average of $297.88.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping the consensus estimate of $4.06 by $0.06. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm earned $4.03 earnings per share. Public Storage's revenue was up .1% on a year-over-year basis. Sell-side analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Thursday, June 12th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.14%. The ex-dividend date was Thursday, June 12th. Public Storage's dividend payout ratio is currently 119.17%.

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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