San Luis Wealth Advisors LLC Invests $608,000 in Public Storage (NYSE:PSA)

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

A number of other large investors also recently made changes to their positions in the company. Seven Post Investment Office LP increased its stake in shares of Public Storage by 0.6% during the first quarter. Seven Post Investment Office LP now owns 29,250 shares of the real estate investment trust's stock worth $8,754,000 after purchasing an additional 171 shares during the period. WD Rutherford LLC increased its stake in shares of Public Storage by 2.0% during the first quarter. WD Rutherford LLC now owns 6,072 shares of the real estate investment trust's stock worth $1,754,000 after purchasing an additional 121 shares during the period. QRG Capital Management Inc. increased its stake in shares of Public Storage by 6.5% during the first quarter. QRG Capital Management Inc. now owns 22,355 shares of the real estate investment trust's stock worth $6,690,000 after purchasing an additional 1,373 shares during the period. Sagespring Wealth Partners LLC increased its stake in shares of Public Storage by 40.5% during the first quarter. Sagespring Wealth Partners LLC now owns 1,273 shares of the real estate investment trust's stock worth $381,000 after purchasing an additional 367 shares during the period. Finally, Sowell Financial Services LLC bought a new position in shares of Public Storage during the first quarter worth approximately $2,440,000. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.1%

Shares of PSA opened at $294.60 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The firm has a market cap of $51.68 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 4.91 and a beta of 0.89. The business's fifty day moving average is $297.68 and its 200-day moving average is $300.09.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating the consensus estimate of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $4.03 EPS. Public Storage's revenue for the quarter was up .1% on a year-over-year basis. Equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is 119.17%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSA. Bank of America raised their price objective on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Evercore ISI raised their price objective on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. Barclays lowered their price objective on Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company lowered their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $339.25.

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.

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