936 Shares in Public Storage (NYSE:PSA) Acquired by Planning Directions Inc.

Planning Directions Inc. purchased a new stake in shares of Public Storage (NYSE:PSA) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 936 shares of the real estate investment trust’s stock, valued at approximately $280,000.

Several other institutional investors have also recently bought and sold shares of PSA. Ameriflex Group Inc. acquired a new stake in shares of Public Storage in the 4th quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new position in Public Storage in the fourth quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new stake in Public Storage in the first quarter worth about $36,000. Millstone Evans Group LLC bought a new stake in Public Storage during the 4th quarter worth 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.

Public Storage Trading Down 0.3%

Shares of NYSE:PSA opened at $296.27 on Monday. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market capitalization of $51.97 billion, a P/E ratio of 29.42, a price-to-earnings-growth ratio of 4.29 and a beta of 0.86. The company has a 50-day simple moving average of $298.90 and a 200 day simple moving average of $297.17.

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 return on equity of 36.50% and a net margin of 41.74%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm posted $4.03 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Sell-side analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Thursday, June 12th were given a dividend of $3.00 per share. The ex-dividend date was Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.05%. Public Storage’s dividend payout ratio (DPR) is presently 119.17%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSA. Mizuho increased their price target on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Truist Financial raised Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a research note on Thursday, April 10th. Barclays reduced their target price on Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Bank of America upped their price target on Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Scotiabank increased their price target on shares of Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a research report on Monday, May 12th. Six research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $337.64.

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.