Kestra Advisory Services LLC Has $9.65 Million Stake in Public Storage $PSA

Key Points

• Kestra Advisory Services LLC increased its position in Public Storage (NYSE: PSA) by 10% during the first quarter, acquiring a total of 32,238 shares valued at approximately $9.65 million.
• Wall Street analysts have mixed ratings for Public Storage, with price targets ranging from $309.00 to $335.43, indicating a generally cautious outlook despite a few strong buy ratings.
• Public Storage reported an EPS of $4.28 in its latest quarterly earnings, slightly exceeding analysts' expectations, and has set a fiscal year 2025 EPS guidance of 16.450-17.00.

Kestra Advisory Services LLC lifted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 10.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,238 shares of the real estate investment trust's stock after buying an additional 2,919 shares during the period. Kestra Advisory Services LLC's holdings in Public Storage were worth $9,649,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Public Storage by 12.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock valued at $13,240,000 after purchasing an additional 4,746 shares in the last quarter. Brighton Jones LLC lifted its stake in Public Storage by 9.7% in the 1st quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust's stock valued at $517,000 after purchasing an additional 152 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Public Storage by 1.2% in the first quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust's stock valued at $92,960,000 after buying an additional 3,627 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Public Storage by 228.1% during the first quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust's stock worth $640,000 after buying an additional 1,487 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of Public Storage by 43.3% during the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust's stock worth $1,083,000 after buying an additional 1,093 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Up 0.8%

PSA stock traded up $2.19 during trading on Friday, hitting $293.86. The company had a trading volume of 256,203 shares, compared to its average volume of 792,424. The stock has a market cap of $51.56 billion, a PE ratio of 32.06, a PEG ratio of 4.83 and a beta of 0.86. The business has a 50-day moving average of $287.60 and a 200-day moving average of $294.20. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a one year low of $256.60 and a one year high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last released 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. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $4.23 EPS. The company's revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $3.00 dividend. The ex-dividend date is Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage's payout ratio is presently 130.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Evercore ISI raised their price objective on Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a report on Monday, August 4th. BNP Paribas Exane initiated coverage on Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price for the company. Royal Bank Of Canada cut their price target on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $340.00 to $325.00 in a report on Friday, June 20th. Finally, Mizuho raised their price objective on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $334.93.

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.