Public Storage $PSA Shares Purchased by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC increased its holdings in Public Storage (NYSE:PSA) by 42.3%, owning 3,314 shares valued at $972,000 following additional purchases.
• Public Storage recently announced a quarterly dividend of $3.00, translating to a 4.0% yield, despite a payout ratio of 130.86%.
• Analysts have mixed ratings on Public Storage, with a consensus rating of "Moderate Buy" and a price target of $324.92, indicating different expectations for its stock performance.

NorthRock Partners LLC boosted its position in Public Storage (NYSE:PSA - Free Report) by 42.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,314 shares of the real estate investment trust's stock after purchasing an additional 985 shares during the period. NorthRock Partners LLC's holdings in Public Storage were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSA. GAMMA Investing LLC lifted its position in shares of Public Storage by 16.7% during the 1st quarter. GAMMA Investing LLC now owns 1,754 shares of the real estate investment trust's stock valued at $525,000 after acquiring an additional 251 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Public Storage by 12.0% during 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 acquiring an additional 4,746 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage during the 1st quarter valued at approximately $36,000. Sound Income Strategies LLC lifted its position in shares of Public Storage by 59.3% during the 1st quarter. Sound Income Strategies LLC now owns 784 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 292 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in shares of Public Storage by 16.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,278 shares of the real estate investment trust's stock valued at $682,000 after acquiring an additional 320 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of Public Storage from $305.00 to $295.00 and set a "neutral" rating for the company in a research report on Tuesday, September 16th. Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $325.00 price target for the company in a research report on Monday. BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Public Storage in a research note on Wednesday, October 8th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $324.92.

Public Storage Stock Up 0.9%

PSA stock opened at $302.37 on Wednesday. The stock has a market capitalization of $53.05 billion, a P/E ratio of 32.97, a PEG ratio of 4.97 and a beta of 0.89. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a one year low of $256.60 and a one year high of $355.87. The company has a 50 day moving average price of $288.40 and a two-hundred day moving average price of $291.60.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping the consensus estimate of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. Public Storage's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, sell-side analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

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

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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