EP Wealth Advisors LLC Buys 177 Shares of Public Storage (NYSE:PSA)

EP Wealth Advisors LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,248 shares of the real estate investment trust’s stock after purchasing an additional 177 shares during the quarter. EP Wealth Advisors LLC’s holdings in Public Storage were worth $973,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC raised its holdings in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Public Storage during the fourth quarter worth about $32,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the 4th quarter worth about $38,000. Millstone Evans Group LLC bought a new position in Public Storage in the 4th quarter valued at about $38,000. Finally, Parvin Asset Management LLC acquired a new position in Public Storage during the 4th quarter valued at about $38,000. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSA. Royal Bank of Canada dropped their target price on Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Barclays restated an “overweight” rating and set a $354.00 price objective (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Truist Financial upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research note on Thursday, April 10th. Mizuho assumed coverage on shares of Public Storage in a report on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price target on the stock. Finally, Evercore ISI upped their price objective on shares of Public Storage from $297.00 to $309.00 and gave the stock an “in-line” rating in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $333.75.

Public Storage Stock Up 1.1 %

PSA stock opened at $303.93 on Friday. The stock has a fifty day moving average of $294.18 and a 200-day moving average of $306.67. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The company has a market capitalization of $53.31 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 4.91 and a beta of 0.91. 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 (NYSE:PSA) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $4.03 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Thursday, June 12th. Public Storage’s payout ratio is currently 119.17%.

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.