Public Storage $PSA Shares Bought by MGO One Seven LLC

Key Points

• MGO One Seven LLC significantly increased its holdings in Public Storage by 397.7% in the second quarter, owning a total of 12,797 shares valued at approximately $3.76 million.
• Public Storage stocks currently have a consensus rating of "Moderate Buy" with an average price target of $324.92, reflecting mixed opinions among analysts.
• The company announced a $3.00 quarterly dividend recently, resulting in a 4.0% dividend yield, although its payout ratio stands at 130.86%.

MGO One Seven LLC raised its holdings in Public Storage (NYSE:PSA - Free Report) by 397.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,797 shares of the real estate investment trust's stock after purchasing an additional 10,226 shares during the quarter. MGO One Seven LLC's holdings in Public Storage were worth $3,755,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PSA. Marshall & Sullivan Inc. WA acquired a new position in shares of Public Storage during the second quarter worth about $25,000. Spectrum Wealth Counsel LLC acquired a new position in shares of Public Storage during the first quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the first quarter worth about $36,000. Wayfinding Financial LLC acquired a new position in shares of Public Storage during the first quarter worth about $41,000. Finally, Rossby Financial LCC acquired a new position in shares of Public Storage during the first quarter worth about $45,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PSA shares. BNP Paribas Exane started coverage on shares of Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price target on the stock. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. UBS Group dropped their price target on shares of Public Storage from $305.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 16th. Barclays dropped their price target on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $324.92.

Public Storage Trading Up 1.8%

Shares of PSA opened at $299.69 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm's 50-day moving average is $288.00 and its two-hundred day moving average is $291.52. Public Storage has a twelve month low of $256.60 and a twelve month high of $355.87. The firm has a market capitalization of $52.58 billion, a P/E ratio of 32.68, a PEG ratio of 4.88 and a beta of 0.89.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned $4.23 earnings per share. The company's revenue for the quarter 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. On average, research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage's dividend payout ratio is 130.86%.

Public Storage 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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