Mid American Wealth Advisory Group Inc. Purchases 655 Shares of Public Storage $PSA

Mid American Wealth Advisory Group Inc. increased its position in shares of Public Storage (NYSE:PSA) by 73.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PSA. Nuveen LLC bought a new stake in shares of Public Storage during the first quarter valued at approximately $271,196,000. Goldman Sachs Group Inc. lifted its holdings in shares of Public Storage by 68.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock worth $348,670,000 after purchasing an additional 475,342 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Public Storage in the 2nd quarter valued at $94,297,000. Vanguard Group Inc. increased its stake in 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 valued at $6,206,046,000 after purchasing an additional 143,575 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Public Storage by 9.8% during the 1st quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock valued at $462,774,000 after purchasing an additional 138,486 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 1.3%

Shares of PSA stock opened at $311.70 on Tuesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $54.69 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 5.02 and a beta of 0.89. Public Storage has a 52-week low of $256.60 and a 52-week high of $355.87. The company has a 50-day simple moving average of $290.41 and a two-hundred day simple moving average of $291.90.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $3.00 per share. 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 currently 130.86%.

Analyst Ratings Changes

A number of research analysts have weighed in on PSA shares. BNP Paribas Exane began coverage on shares of Public Storage in a research note on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 price objective on the stock. BNP Paribas raised shares of Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. UBS Group cut their price target on Public Storage from $305.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, September 16th. Evercore ISI boosted their price objective on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a report on Friday, October 3rd. Finally, Scotiabank dropped their target price on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.92.

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.