Dynamic Advisor Solutions LLC Raises Stake in Public Storage (NYSE:PSA)

Dynamic Advisor Solutions LLC raised its holdings in shares of Public Storage (NYSE:PSA) by 9.7% during the first quarter, Holdings Channel reports. The fund owned 9,162 shares of the real estate investment trust’s stock after buying an additional 813 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Public Storage were worth $2,742,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PSA. Werba Rubin Papier Wealth Management boosted its stake in shares of Public Storage by 1.7% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock valued at $681,000 after purchasing an additional 38 shares in the last quarter. Lido Advisors LLC lifted its stake in Public Storage by 0.9% in the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust’s stock worth $1,287,000 after purchasing an additional 39 shares during the last quarter. Integrated Advisors Network LLC boosted its position in Public Storage by 1.4% during the fourth quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust’s stock valued at $918,000 after buying an additional 41 shares during the period. Atlas Brown Inc. grew its stake in shares of Public Storage by 2.1% during the first quarter. Atlas Brown Inc. now owns 2,176 shares of the real estate investment trust’s stock valued at $651,000 after buying an additional 45 shares during the last quarter. Finally, CVA Family Office LLC increased its holdings in shares of Public Storage by 24.6% in the first quarter. CVA Family Office LLC now owns 238 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 47 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Scotiabank increased their target price on Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Mizuho increased their price objective on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Wells Fargo & Company cut their target price 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. Royal Bank of Canada lowered their price target on shares of Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Finally, Bank of America increased their price target on shares of Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Five 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $339.25.

Public Storage Stock Performance

NYSE:PSA opened at $294.85 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The stock has a market cap of $51.73 billion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 4.91 and a beta of 0.89. The firm’s fifty day simple moving average is $297.10 and its 200 day simple moving average is $300.46.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. 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 earnings per share. Public Storage’s quarterly revenue was up .1% on a year-over-year basis. As a group, research analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

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

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.