San Luis Wealth Advisors LLC Acquires Shares of 2,030 Public Storage (NYSE:PSA)

San Luis Wealth Advisors LLC purchased a new position in Public Storage (NYSE:PSA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,030 shares of the real estate investment trust's stock, valued at approximately $608,000.

Several other hedge funds have also recently made changes to their positions in PSA. Ameriflex Group Inc. bought a new stake in Public Storage in the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Public Storage in the 4th quarter worth $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage in the 1st quarter worth $36,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage in the fourth quarter worth $38,000. Finally, Parvin Asset Management LLC purchased a new stake in Public Storage during the fourth quarter valued at $38,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of NYSE PSA traded down $0.69 during midday trading on Friday, reaching $290.12. The stock had a trading volume of 1,419,992 shares, compared to its average volume of 748,983. The stock has a 50-day moving average of $298.32 and a 200-day moving average of $299.61. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $50.90 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 4.21 and a beta of 0.89. 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 earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the company earned $4.03 EPS. Public Storage's revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

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

Analysts Set New Price Targets

PSA has been the topic of several research reports. Scotiabank raised their target price on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Bank of America increased their price objective on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $340.00 to $325.00 in a report on Friday. Finally, Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a research report on Thursday, April 10th. Six investment 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $338.15.

About Public Storage

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.