Pure Financial Advisors LLC Has $2.91 Million Position in Public Storage $PSA

Key Points

• Pure Financial Advisors LLC increased its investment in Public Storage by 860.9% during the second quarter, now holding shares worth $2.91 million.
• Public Storage reported $4.28 earnings per share for the last quarter, surpassing expectations and marking a 2.4% revenue increase compared to the previous year.
• The company's quarterly dividend of $3.00 offers a yield of 4.1%, with a high dividend payout ratio of 130.86%.

Pure Financial Advisors LLC boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 860.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,917 shares of the real estate investment trust's stock after buying an additional 8,885 shares during the quarter. Pure Financial Advisors LLC's holdings in Public Storage were worth $2,910,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PSA. NBC Securities Inc. bought a new position in Public Storage in the 1st quarter valued at approximately $135,000. Whipplewood Advisors LLC raised its holdings in Public Storage by 356.8% in the 1st quarter. Whipplewood Advisors LLC now owns 169 shares of the real estate investment trust's stock valued at $51,000 after buying an additional 132 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Public Storage by 1.0% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 5,270 shares of the real estate investment trust's stock valued at $1,577,000 after buying an additional 51 shares during the last quarter. Clare Market Investments LLC raised its holdings in Public Storage by 39.2% in the 1st quarter. Clare Market Investments LLC now owns 1,029 shares of the real estate investment trust's stock valued at $308,000 after buying an additional 290 shares during the last quarter. Finally, Naples Global Advisors LLC raised its holdings in Public Storage by 38.8% in the 1st quarter. Naples Global Advisors LLC now owns 2,488 shares of the real estate investment trust's stock valued at $744,000 after buying an additional 695 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE:PSA opened at $290.94 on Thursday. The company has a fifty day moving average of $286.53 and a 200-day moving average of $291.60. The firm has a market capitalization of $51.04 billion, a P/E ratio of 31.73, a P/E/G ratio of 4.79 and a beta of 0.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a twelve month low of $256.60 and a twelve month high of $356.92.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, sell-side analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage's dividend payout ratio (DPR) is presently 130.86%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PSA shares. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. BNP Paribas Exane assumed coverage on shares of Public Storage in a report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price target for the company. Royal Bank Of Canada lowered their price target on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. Finally, BMO Capital Markets lowered shares of Public Storage from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $340.00 to $325.00 in a report on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $322.54.

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.

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.