International Private Wealth Advisors LLC Takes Position in Public Storage (NYSE:PSA)

International Private Wealth Advisors LLC acquired a new position in shares of Public Storage (NYSE:PSA) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,368 shares of the real estate investment trust’s stock, valued at approximately $409,000.

Several other institutional investors have also recently modified their holdings of PSA. Farther Finance Advisors LLC raised its holdings in shares of Public Storage by 28.6% in the first quarter. Farther Finance Advisors LLC now owns 2,246 shares of the real estate investment trust’s stock worth $671,000 after acquiring an additional 499 shares during the last quarter. Werlinich Asset Management LLC boosted its stake in shares of Public Storage by 0.9% during the first quarter. Werlinich Asset Management LLC now owns 6,055 shares of the real estate investment trust’s stock valued at $1,812,000 after acquiring an additional 55 shares during the last quarter. Capital Investment Advisors LLC increased its position in Public Storage by 12.1% during the 1st quarter. Capital Investment Advisors LLC now owns 32,061 shares of the real estate investment trust’s stock worth $9,596,000 after purchasing an additional 3,453 shares in the last quarter. Park Avenue Securities LLC raised its stake in Public Storage by 18.9% in the 1st quarter. Park Avenue Securities LLC now owns 3,725 shares of the real estate investment trust’s stock valued at $1,115,000 after purchasing an additional 592 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new position in Public Storage in the 1st quarter valued at about $280,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Barclays decreased their target price on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Royal Bank of Canada cut their price target on Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Mizuho increased their price target on Public Storage from $287.00 to $309.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. Finally, Bank of America raised their price objective on Public Storage from $368.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $339.25.

Public Storage Price Performance

Shares of Public Storage stock opened at $303.30 on Monday. The business’s fifty day moving average price is $295.50 and its 200 day moving average price is $302.14. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $53.21 billion, a P/E ratio of 31.50, a PEG ratio of 4.91 and a beta of 0.89.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $4.03 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given 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 3.96%. Public Storage’s payout ratio is currently 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.