Sequoia Financial Advisors LLC Grows Position in Public Storage $PSA

Key Points

• Sequoia Financial Advisors LLC significantly increased its position in Public Storage (NYSE: PSA) by 96.0% during Q2, holding 17,371 shares valued at $5,097,000 as per the latest SEC filing.
• Analysts have diverse opinions on Public Storage, with one rating it as a strong buy, eight as a buy, and one as a sell, while the consensus target price stands at $324.92.
• Public Storage recently declared a $3.00 quarterly dividend, equating to a 4.0% yield, with a payout ratio of 130.86% from its earnings.

Sequoia Financial Advisors LLC raised its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 96.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,371 shares of the real estate investment trust's stock after purchasing an additional 8,507 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Public Storage were worth $5,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA purchased a new stake in Public Storage during the second quarter valued at about $25,000. Spectrum Wealth Counsel LLC purchased a new stake in shares of Public Storage during the first quarter worth $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the first quarter worth $36,000. Wayfinding Financial LLC purchased a new stake in shares of Public Storage during the first quarter worth $41,000. Finally, Rossby Financial LCC purchased a new stake in shares of Public Storage during the first quarter worth $45,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSA. Barclays dropped their target price on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "hold" rating to a "buy" rating and set a $325.00 target price on the stock in a research report on Monday. Royal Bank Of Canada dropped their target price on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Finally, UBS Group decreased their price target on shares of Public Storage from $305.00 to $295.00 and set a "neutral" rating on the stock in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $324.92.

Public Storage Trading Up 0.9%

Public Storage stock opened at $302.37 on Wednesday. The stock has a market cap of $53.05 billion, a P/E ratio of 32.97, a PEG ratio of 4.97 and a beta of 0.89. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. The firm's fifty day moving average price is $288.40 and its 200-day moving average price is $291.60. 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 (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, beating analysts' consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm's revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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