Public Storage (NYSE:PSA) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 12.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,236 shares of the real estate investment trust's stock after purchasing an additional 4,746 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Public Storage were worth $13,240,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSA. Ameriflex Group Inc. bought a new position in Public Storage during the fourth quarter worth $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Public Storage during the fourth quarter worth about $32,000. Millstone Evans Group LLC acquired a new position in Public Storage during the fourth quarter worth about $38,000. Parvin Asset Management LLC acquired a new position in shares of Public Storage in the 4th quarter valued at $38,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Public Storage in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Down 0.2%

NYSE PSA opened at $290.12 on Monday. The stock has a 50-day simple moving average of $298.53 and a 200 day simple moving average of $298.82. The company has a market capitalization of $50.90 billion, a PE ratio of 28.81, a P/E/G ratio of 4.20 and a beta of 0.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $4.03 earnings per share. The firm's revenue was up .1% on a year-over-year basis. Research analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.14%. Public Storage's dividend payout ratio is currently 119.17%.

Wall Street Analyst Weigh In

PSA has been the subject of a number of research reports. Evercore ISI raised their price objective on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Royal Bank Of Canada reduced their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Scotiabank raised their price objective on Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. BMO Capital Markets downgraded Public Storage from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $340.00 to $325.00 in a research note on Friday. Finally, Barclays dropped their price target on Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Public Storage has a consensus rating of "Moderate Buy" and an average price target of $338.15.

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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