Public Storage (NYSE:PSA) Shares Bought by Capital Investment Advisors LLC

Capital Investment Advisors LLC lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 12.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,061 shares of the real estate investment trust's stock after purchasing an additional 3,453 shares during the period. Capital Investment Advisors LLC's holdings in Public Storage were worth $9,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Park Avenue Securities LLC increased its holdings in shares of Public Storage by 18.9% in the first quarter. Park Avenue Securities LLC now owns 3,725 shares of the real estate investment trust's stock valued at $1,115,000 after buying an additional 592 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Public Storage during the first quarter valued at $280,000. Wedmont Private Capital boosted its position in shares of Public Storage by 20.9% in the 1st quarter. Wedmont Private Capital now owns 874 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 151 shares during the period. UMB Bank n.a. boosted its position in shares of Public Storage by 6.2% in the 1st quarter. UMB Bank n.a. now owns 21,552 shares of the real estate investment trust's stock valued at $6,450,000 after purchasing an additional 1,256 shares during the period. Finally, Procyon Advisors LLC increased its stake in Public Storage by 2.8% in the 1st quarter. Procyon Advisors LLC now owns 8,590 shares of the real estate investment trust's stock worth $2,571,000 after purchasing an additional 231 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Price Performance

PSA opened at $303.30 on Friday. The stock has a fifty day moving average price of $295.50 and a 200 day moving average price of $302.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The stock has a market cap of $53.21 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 4.91 and a beta of 0.89.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company earned $4.03 EPS. The firm's revenue was up .1% on a year-over-year basis. Analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Thursday, June 12th. Public Storage's payout ratio is presently 119.17%.

Wall Street Analysts Forecast Growth

PSA has been the subject of several recent analyst reports. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a report on Thursday, April 10th. Evercore ISI upped their price target 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. 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. Mizuho boosted their target price on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Finally, Royal Bank of Canada lowered their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage currently has an average rating of "Moderate Buy" and a consensus price target of $339.25.

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.

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