Intrua Financial LLC Lowers Stock Holdings in Public Storage $PSA

Intrua Financial LLC reduced its position in shares of Public Storage (NYSE:PSA) by 16.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 711 shares of the real estate investment trust’s stock after selling 139 shares during the period. Intrua Financial LLC’s holdings in Public Storage were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PSA. Ameriflex Group Inc. purchased a new position in shares of Public Storage during the fourth quarter worth $30,000. Spectrum Wealth Counsel LLC purchased a new position in shares of Public Storage during the first quarter worth $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage during the first quarter worth $36,000. Wayfinding Financial LLC purchased a new position in shares of Public Storage during the first quarter worth $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Public Storage during the fourth quarter worth $43,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.8%

Public Storage stock opened at $292.71 on Friday. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market cap of $51.36 billion, a PE ratio of 31.92, a P/E/G ratio of 4.90 and a beta of 0.86. The stock’s fifty day moving average is $287.40 and its two-hundred day moving average is $293.56.

Public Storage (NYSE:PSA) last posted its quarterly 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 34.06% and a net margin of 38.13%.The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $4.23 earnings per share. Public Storage’s quarterly revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, sell-side analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $3.00 dividend. The ex-dividend date is Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. Public Storage’s dividend payout ratio (DPR) is currently 130.86%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PSA shares. Barclays reduced their price objective on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company reduced their price objective on Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Scotiabank reduced their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. BMO Capital Markets cut Public Storage from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Finally, Royal Bank Of Canada reduced their price objective on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $331.62.

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.