Mid American Wealth Advisory Group Inc. Grows Stake in Public Storage $PSA

Mid American Wealth Advisory Group Inc. lifted its stake in shares of Public Storage (NYSE:PSA) by 73.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,549 shares of the real estate investment trust’s stock after buying an additional 655 shares during the quarter. Mid American Wealth Advisory Group Inc.’s holdings in Public Storage were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC bought a new position in Public Storage during the first quarter valued at $271,196,000. Goldman Sachs Group Inc. lifted its position in shares of Public Storage by 68.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock valued at $348,670,000 after buying an additional 475,342 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Public Storage during the 2nd quarter valued at $94,297,000. Vanguard Group Inc. grew its stake in shares of Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock worth $6,206,046,000 after acquiring an additional 143,575 shares during the period. Finally, Deutsche Bank AG increased its holdings in Public Storage by 9.8% in the 1st quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock worth $462,774,000 after acquiring an additional 138,486 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $311.70 on Tuesday. The company’s 50 day simple moving average is $290.41 and its two-hundred day simple moving average is $291.90. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87. The stock has a market capitalization of $54.69 billion, a PE ratio of 33.99, a P/E/G ratio of 5.02 and a beta of 0.89.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm posted $4.23 earnings per share. The business’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. Analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

Wall Street Analyst Weigh In

PSA has been the topic of several recent research reports. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. BNP Paribas upgraded shares of Public Storage to a “strong-buy” rating in a research note on Tuesday, June 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. BNP Paribas Exane assumed coverage on shares of Public Storage in a report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $324.92.

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.