Live Oak Investment Partners Buys 206 Shares of Public Storage (NYSE:PSA)

Live Oak Investment Partners lifted its stake in shares of Public Storage (NYSE:PSA) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,699 shares of the real estate investment trust’s stock after purchasing an additional 206 shares during the quarter. Live Oak Investment Partners’ holdings in Public Storage were worth $508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Shum Financial Group Inc. boosted its holdings in Public Storage by 1.7% in the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust’s stock valued at $625,000 after purchasing an additional 35 shares during the period. Lido Advisors LLC boosted its stake in Public Storage by 0.9% during the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust’s stock worth $1,287,000 after acquiring an additional 39 shares in the last quarter. Integrated Advisors Network LLC boosted its stake 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 worth $918,000 after acquiring an additional 41 shares in the last quarter. Atlas Brown Inc. lifted its stake in shares of Public Storage by 2.1% in the first quarter. Atlas Brown Inc. now owns 2,176 shares of the real estate investment trust’s stock worth $651,000 after buying an additional 45 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake 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 in the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PSA shares. BNP Paribas upgraded shares of Public Storage to a “strong-buy” rating in a research note on Tuesday. Barclays reduced their target price on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Evercore ISI upped their target price on shares of Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a report on Friday, May 2nd. Bank of America upped their price target on shares of Public Storage from $368.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, BMO Capital Markets lowered shares of Public Storage from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $337.64.

Public Storage Price Performance

PSA stock opened at $295.84 on Wednesday. The company has a fifty day simple moving average of $298.80 and a two-hundred day simple moving average of $298.53. The firm has a market capitalization of $51.90 billion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 4.26 and a beta of 0.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $4.03 EPS. Analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal 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 issued a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. Public Storage’s dividend payout ratio (DPR) is presently 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.