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

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Key Points

  • Carrera Capital Advisors increased its stake in Public Storage (NYSE: PSA) by 16.1% during the first quarter, owning a total of 10,288 shares valued at approximately $3.08 million.
  • Public Storage reported earnings of $4.12 per share for the last quarter, exceeding analysts' expectations and demonstrating a slight year-over-year revenue increase of 0.1%.
  • The company has announced a quarterly dividend of $3.00 per share, translating to an annualized dividend of $12.00, and a dividend yield of 4.17%.
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Carrera Capital Advisors boosted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,288 shares of the real estate investment trust's stock after buying an additional 1,427 shares during the quarter. Public Storage accounts for approximately 0.7% of Carrera Capital Advisors' portfolio, making the stock its 28th largest holding. Carrera Capital Advisors' holdings in Public Storage were worth $3,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Shum Financial Group Inc. lifted its holdings in shares of Public Storage by 1.7% in the first quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock valued at $625,000 after purchasing an additional 35 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of Public Storage by 0.9% in the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock valued at $1,287,000 after purchasing an additional 39 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Public Storage by 1.4% in the fourth quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust's stock valued at $918,000 after purchasing an additional 41 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Public Storage by 3.2% in the first quarter. Valeo Financial Advisors LLC now owns 1,313 shares of the real estate investment trust's stock valued at $393,000 after purchasing an additional 41 shares in the last quarter. Finally, Winch Advisory Services LLC lifted its holdings in shares of Public Storage by 39.8% in the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

NYSE:PSA opened at $287.70 on Friday. 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 company has a market cap of $50.47 billion, a P/E ratio of 28.57, a P/E/G ratio of 4.19 and a beta of 0.86. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The firm's 50 day moving average is $295.05 and its two-hundred day moving average is $296.05.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm posted $4.03 earnings per share. Public Storage's revenue was up .1% on a year-over-year basis. Analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

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

Wall Street Analyst Weigh In

PSA has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday. BMO Capital Markets downgraded shares of Public Storage from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Mizuho upped their price objective 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. Royal Bank Of Canada reduced their price objective on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Finally, Bank of America upped their price objective on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $336.93.

Check Out Our Latest Analysis on Public Storage

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.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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