MBB Public Markets I LLC Invests $318,000 in Public Storage $PSA

Key Points

• MBB Public Markets I LLC has invested $318,000 in Public Storage, acquiring 1,063 shares of the real estate investment trust.
• The company's stock is down 1.5%, with a current trading price of $290.41 and a market capitalization of $50.95 billion.
• Public Storage declared a quarterly dividend of $3.00 per share, representing a 4.1% annual yield, with a payout ratio of 130.86%.

MBB Public Markets I LLC purchased a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,063 shares of the real estate investment trust's stock, valued at approximately $318,000.

Several other hedge funds have also modified their holdings of PSA. Ameriflex Group Inc. purchased a new stake in shares of Public Storage during the fourth quarter valued at about $30,000. Spectrum Wealth Counsel LLC purchased a new stake in shares of Public Storage during the first quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the first quarter valued at about $36,000. Wayfinding Financial LLC purchased a new position in shares of Public Storage in the 1st quarter valued at approximately $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Public Storage in the 4th quarter valued at approximately $43,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PSA. Evercore ISI increased their price objective on shares of Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a research report on Monday, August 4th. Scotiabank decreased their price objective on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 28th. Barclays decreased their price objective on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $331.62.

Public Storage Stock Performance

NYSE:PSA traded down $2.21 during midday trading on Friday, hitting $292.71. The company's stock had a trading volume of 690,770 shares, compared to its average volume of 601,191. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The firm's 50 day moving average is $287.40 and its 200-day moving average is $293.56. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $51.36 billion, a P/E ratio of 31.92, a P/E/G ratio of 4.90 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company earned $4.23 EPS. Public Storage's quarterly revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, September 15th. Public Storage's dividend payout ratio is 130.86%.

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.