Free Trial

Private Advisor Group LLC Acquires 873 Shares of Public Storage (NYSE:PSA)

Public Storage logo with Finance background

Key Points

  • Private Advisor Group LLC increased its stake in Public Storage by 20.1%, owning 5,215 shares worth approximately $1.56 million after purchasing additional shares in the first quarter.
  • Public Storage reported a quarterly earnings per share of $4.12, surpassing analysts' expectations, and generated $1.18 billion in revenue for the quarter.
  • The company recently declared a $3.00 quarterly dividend, contributing to an annualized dividend of $12.00 with a yield of 4.17%.
  • MarketBeat previews the top five stocks to own by August 1st.
  • Limited Time Offer: Unlock powerful research tools, advanced financial data, and expert insights to help you invest with confidence. Save 50% when you upgrade to MarketBeat All Access during the month of July. Claim your discount here.

Private Advisor Group LLC lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 20.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,215 shares of the real estate investment trust's stock after purchasing an additional 873 shares during the period. Private Advisor Group LLC's holdings in Public Storage were worth $1,561,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PSA. Ameriflex Group Inc. acquired a new position in Public Storage in the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage in the fourth quarter worth $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage during the first quarter valued at $36,000. Parvin Asset Management LLC acquired a new position in Public Storage during the fourth quarter valued at $38,000. Finally, Wayfinding Financial LLC purchased a new stake in Public Storage in the 1st quarter worth about $41,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PSA shares. Wells Fargo & Company lowered their price objective on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday. Mizuho boosted their price objective on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Scotiabank boosted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Barclays lowered their price objective on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Finally, Evercore ISI raised their price objective on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $336.93.

Read Our Latest Research Report on Public Storage

Public Storage Trading Up 0.1%

PSA stock traded up $0.39 during midday trading on Friday, reaching $287.70. The stock had a trading volume of 674,373 shares, compared to its average volume of 886,742. The firm has a market cap of $50.47 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 4.19 and a beta of 0.86. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. The business has a fifty day simple moving average of $295.05 and a two-hundred day simple moving average of $296.05.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the company earned $4.03 EPS. Public Storage's revenue was up .1% on a year-over-year basis. As a group, research analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Thursday, June 12th were paid a $3.00 dividend. The ex-dividend date was Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.17%. Public Storage's dividend payout ratio (DPR) is presently 119.17%.

Public Storage Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

Should You Invest $1,000 in Public Storage Right Now?

Before you consider Public Storage, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Public Storage wasn't on the list.

While Public Storage currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 “Boring” Mega Cap Stocks to Turn Into Pure Profit
Joby vs. Archer: The $10 Billion eVTOL Battle
3 Small-Cap Biotech Stocks With Catalysts Too Big to Ignore

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines