Marshall Financial Group LLC Purchases New Stake in Public Storage $PSA

Key Points

• Marshall Financial Group LLC has invested approximately $879,000 in Public Storage by purchasing 3,012 shares, indicating continued interest in the real estate investment trust (REIT) market.
• Analysts have recently adjusted their price targets for Public Storage, with the consensus rating classified as "Moderate Buy" and an average target price of $322.00.
• Public Storage announced a quarterly dividend of $3.00 per share, reflecting an annualized dividend yield of 4.2%, despite a high dividend payout ratio of 130.86%.

Marshall Financial Group LLC purchased a new stake in Public Storage (NYSE:PSA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,012 shares of the real estate investment trust's stock, valued at approximately $879,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. grew its holdings in Public Storage by 1.6% during the 1st 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 last quarter. Shum Financial Group Inc. grew its stake in shares of Public Storage by 1.7% in 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 in the last quarter. Meeder Asset Management Inc. boosted its position in Public Storage by 3.1% during the first quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust's stock worth $388,000 after purchasing an additional 39 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of 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 worth $1,072,000 after buying an additional 39 shares in the last quarter. Finally, ICW Investment Advisors LLC raised its stake in Public Storage by 1.0% in the first quarter. ICW Investment Advisors LLC now owns 3,901 shares of the real estate investment trust's stock valued at $1,168,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PSA shares. Royal Bank Of Canada reduced their target price 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. Barclays cut their target price on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Evercore ISI lifted their price target on Public Storage from $309.00 to $312.00 and gave the company an "in-line" rating in a research report on Monday. Finally, BMO Capital Markets downgraded Public Storage from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given 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 target price of $322.00.

Public Storage Price Performance

NYSE PSA traded down $4.76 during trading on Friday, hitting $279.03. 2,155,961 shares of the stock traded hands, compared to its average volume of 684,734. The company has a market capitalization of $48.96 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 4.71 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 firm has a 50-day simple moving average of $286.79 and a 200-day simple moving average of $292.79. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results 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. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage's revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.3%. Public Storage's dividend payout ratio is currently 130.86%.

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.