Poinciana Advisors Group LLC Acquires Shares of 1,105 Public Storage $PSA

Key Points

• Poinciana Advisors Group LLC acquired 1,105 shares of Public Storage (NYSE: PSA), valued at approximately $324,000, during the second quarter.
• Public Storage reported earnings per share (EPS) of $4.28 for its latest quarter, exceeding estimates, and increased its dividend to $3.00 per share, indicating a yield of 4.2%.
• Institutional investors now own 78.79% of Public Storage stock, with several firms, including Goldman Sachs and Vanguard Group, increasing their stakes significantly in recent months.

Poinciana Advisors Group LLC acquired a new stake in Public Storage (NYSE:PSA - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 1,105 shares of the real estate investment trust's stock, valued at approximately $324,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Nuveen LLC acquired a new stake in Public Storage during the 1st quarter worth $271,196,000. Goldman Sachs Group Inc. raised its stake in shares of Public Storage by 68.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust's stock valued at $348,670,000 after purchasing an additional 475,342 shares during the period. Vanguard Group Inc. raised its stake in shares of Public Storage by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock valued at $6,206,046,000 after purchasing an additional 143,575 shares during the period. Deutsche Bank AG raised its stake in shares of Public Storage by 9.8% in the 1st quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust's stock valued at $462,774,000 after purchasing an additional 138,486 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Public Storage in the first quarter valued at about $35,178,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Up 0.7%

Shares of NYSE:PSA opened at $288.25 on Tuesday. The company has a fifty day moving average of $286.55 and a 200-day moving average of $291.63. The company has a market capitalization of $50.57 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 4.75 and a beta of 0.86. 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 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 quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 38.13% and a return on equity of 34.06%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts predict that Public Storage will post 16.7 EPS 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. Shareholders 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 yield of 4.2%. The ex-dividend date is Monday, September 15th. Public Storage's dividend payout ratio (DPR) is presently 130.86%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays lowered their target price on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. JPMorgan Chase & Co. lowered their price target on Public Storage from $324.00 to $321.00 and set an "overweight" rating on the stock in a research report on Friday, September 12th. Scotiabank lowered their price target on Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 28th. 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, September 15th. Finally, BNP Paribas upgraded Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. One equities research 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $322.00.

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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