Walled Lake Planning & Wealth Management LLC Takes Position in Public Storage (NYSE:PSA)

Key Points

• Walled Lake Planning & Wealth Management LLC acquired a new stake in Public Storage, purchasing 10,258 shares valued at approximately $3.07 million in the first quarter.
• Public Storage reported a quarterly earnings per share (EPS) of $4.12, beating analysts' expectations, with revenue remaining stable at $1.18 billion.
• The company announced a quarterly dividend of $3.00, representing an annualized dividend yield of 4.19% and a payout ratio of 119.17%.

Walled Lake Planning & Wealth Management LLC purchased a new stake in Public Storage (NYSE:PSA - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,258 shares of the real estate investment trust's stock, valued at approximately $3,070,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSA. Loomis Sayles & Co. L P boosted its position in shares of Public Storage by 31.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 382 shares of the real estate investment trust's stock valued at $114,000 after acquiring an additional 91 shares during the period. Blair William & Co. IL boosted its holdings in Public Storage by 16.0% in the fourth quarter. Blair William & Co. IL now owns 3,036 shares of the real estate investment trust's stock valued at $909,000 after acquiring an additional 419 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Public Storage by 9.1% during the fourth quarter. Schroder Investment Management Group now owns 327,243 shares of the real estate investment trust's stock worth $96,802,000 after buying an additional 27,184 shares during the last quarter. Physician Wealth Advisors Inc. bought a new position in Public Storage during the fourth quarter worth about $125,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Public Storage by 39.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 27,000 shares of the real estate investment trust's stock worth $8,085,000 after buying an additional 7,589 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PSA. 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 report on Thursday, April 10th. Evercore ISI lifted their target price on Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. BMO Capital Markets lowered 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 research report on Friday, June 20th. Scotiabank boosted their price target 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. Finally, BNP Paribas upgraded Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of "Moderate Buy" and an average target price of $336.93.

Public Storage Stock Performance

PSA traded down $3.66 during trading on Wednesday, hitting $288.91. The stock had a trading volume of 884,542 shares, compared to its average volume of 847,389. The company has a 50 day moving average price of $294.16 and a 200-day moving average price of $295.97. The firm has a market cap of $50.68 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 4.26 and a beta of 0.86. Public Storage has a one year low of $256.60 and a one year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.23 earnings per share. As a group, research analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Thursday, June 12th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.15%. Public Storage's payout ratio is 119.17%.

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.