Focus Partners Advisor Solutions LLC Buys 3,424 Shares of Public Storage $PSA

Focus Partners Advisor Solutions LLC lifted its stake in Public Storage (NYSE:PSA) by 497.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,113 shares of the real estate investment trust’s stock after acquiring an additional 3,424 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Public Storage were worth $1,207,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Marshall & Sullivan Inc. WA bought a new position in shares of Public Storage in the 2nd quarter valued at approximately $25,000. Harbor Asset Planning Inc. bought a new position in shares of Public Storage in the 2nd quarter valued at approximately $25,000. Spectrum Wealth Counsel LLC bought a new position in shares of Public Storage in the 1st quarter valued at approximately $30,000. Wayfinding Financial LLC bought a new position in shares of Public Storage in the 1st quarter valued at approximately $41,000. Finally, Rossby Financial LCC bought a new position in shares of Public Storage in the 1st quarter valued at approximately $45,000. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSA has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada dropped their price target on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research report on Friday, August 1st. Evercore ISI lifted their price target on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research report on Friday, October 3rd. Finally, UBS Group dropped their price target on Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $325.69.

Public Storage Stock Performance

PSA opened at $300.17 on Tuesday. The stock has a market cap of $52.66 billion, a PE ratio of 32.73, a P/E/G ratio of 4.93 and a beta of 0.89. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 1 year low of $256.60 and a 1 year high of $355.87. The stock’s 50 day simple moving average is $292.80 and its 200-day simple moving average is $292.99.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Sell-side analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently disclosed 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 was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s payout ratio is currently 130.86%.

Public Storage Company 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.