NewEdge Advisors LLC Has $45.23 Million Holdings in Public Storage $PSA

Key Points

• NewEdge Advisors LLC increased its stake in Public Storage by 6.2%, now owning approximately $45.23 million worth of shares after acquiring 8,888 additional shares.
• Public Storage reported an EPS of $4.28 for its latest quarter, exceeding analysts' estimates, with a revenue of $1.20 billion, a 2.4% increase from the previous year.
• The company's recent dividend announcement includes a quarterly payment of $3.00 per share, yielding 4.1%, with a payout ratio of 130.86%.

NewEdge Advisors LLC lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,130 shares of the real estate investment trust's stock after purchasing an additional 8,888 shares during the period. NewEdge Advisors LLC owned 0.09% of Public Storage worth $45,231,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PSA. Ameriflex Group Inc. bought a new position in Public Storage in the 4th quarter worth $30,000. Spectrum Wealth Counsel LLC bought a new position in Public Storage in the 1st quarter worth $30,000. Opal Wealth Advisors LLC bought a new position in Public Storage in the 1st quarter worth $36,000. Wayfinding Financial LLC bought a new position in Public Storage in the 1st quarter worth $41,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Public Storage in the 4th quarter worth $43,000. Institutional investors own 78.79% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSA. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Royal Bank Of Canada dropped their price objective on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Evercore ISI boosted their price objective on shares of Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Barclays dropped their price objective on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $331.62.

Public Storage Price Performance

Shares of Public Storage stock traded up $5.58 during trading on Friday, hitting $297.80. 595,047 shares of the company's stock traded hands, compared to its average volume of 600,586. 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's fifty day moving average price is $287.79 and its 200 day moving average price is $293.84. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a market cap of $52.25 billion, a PE ratio of 32.48, a PEG ratio of 4.94 and a beta of 0.86.

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 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 business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business earned $4.23 EPS. The firm's 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. Analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, September 15th. Public Storage's payout ratio is 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.