PFG Investments LLC Acquires 1,285 Shares of Public Storage $PSA

Key Points

• PFG Investments LLC increased its stake in Public Storage by 138.6% during the 2nd quarter, acquiring 1,285 additional shares, bringing its total holdings to 2,212 shares valued at $649,000.
• Public Storage recently declared a quarterly dividend of $3.00, resulting in an annualized dividend of $12.00 and a dividend yield of 4.1%.
• The stock has a consensus rating of "Moderate Buy" with a current price target of $322.92, although UBS Group lowered its price target from $305.00 to $295.00.

PFG Investments LLC increased its holdings in Public Storage (NYSE:PSA - Free Report) by 138.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,212 shares of the real estate investment trust's stock after acquiring an additional 1,285 shares during the period. PFG Investments LLC's holdings in Public Storage were worth $649,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Marshall & Sullivan Inc. WA purchased a new position in Public Storage in the second quarter valued at approximately $25,000. Spectrum Wealth Counsel LLC purchased a new position in Public Storage in the first quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new position in Public Storage in the first quarter valued at approximately $36,000. Wayfinding Financial LLC purchased a new position in Public Storage in the first quarter valued at approximately $41,000. Finally, Rossby Financial LCC purchased a new position in Public Storage in the first quarter valued at approximately $45,000. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. UBS Group dropped their price objective on Public Storage from $305.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 16th. Barclays dropped their price objective on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. BNP Paribas Exane began coverage on Public Storage in a research report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.92.

Public Storage Trading Up 1.6%

Public Storage stock opened at $293.74 on Friday. The stock has a market cap of $51.54 billion, a P/E ratio of 32.03, a PEG ratio of 4.80 and a beta of 0.89. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. The firm's fifty day moving average price is $286.68 and its 200-day moving average price is $291.49. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77.

Public Storage (NYSE:PSA - Get Free Report) last released 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. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. Public Storage's dividend payout ratio is presently 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.

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