Little House Capital LLC Purchases 1,254 Shares of Public Storage $PSA

Key Points

• Little House Capital LLC increased its holdings in Public Storage by 13.6%, acquiring an additional 1,254 shares, bringing their total to 10,478 shares valued at approximately $3.07 million.
• Public Storage recently announced a quarterly dividend of $3.00 per share, with an annualized yield of 4.2%, scheduled for payment to investors on September 30th.
• The company reported earnings of $4.28 per share for the last quarter, exceeding analyst expectations, with a revenue of $1.20 billion and a year-over-year revenue increase of 2.4%.

Little House Capital LLC boosted its position in Public Storage (NYSE:PSA - Free Report) by 13.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,478 shares of the real estate investment trust's stock after acquiring an additional 1,254 shares during the period. Little House Capital LLC's holdings in Public Storage were worth $3,074,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new stake in shares of Public Storage during the fourth quarter valued at about $30,000. Spectrum Wealth Counsel LLC bought a new stake in shares of Public Storage during the first quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Public Storage during the first quarter valued at about $36,000. Wayfinding Financial LLC bought a new stake in shares of Public Storage during the first quarter valued at about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Public Storage during the fourth quarter valued at about $43,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Price Performance

Shares of Public Storage stock opened at $286.32 on Tuesday. 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 company has a market cap of $50.23 billion, a PE ratio of 31.22, a P/E/G ratio of 4.85 and a beta of 0.86. The business has a 50 day moving average of $287.29 and a 200 day moving average of $293.28. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. The company had revenue of $1.20 billion during 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 firm's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

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. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, September 15th. Public Storage's dividend payout ratio is currently 130.86%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Mizuho upped their price target on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Wall Street Zen cut Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Barclays cut their price objective on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Evercore ISI boosted their price objective on Public Storage from $309.00 to $312.00 and gave the stock an "in-line" rating in a report on Monday. Finally, Royal Bank Of Canada cut their price objective on Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $331.85.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.