Public Storage (NYSE:PSA) Shares Purchased by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC increased its position in shares of Public Storage (NYSE:PSA) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,862 shares of the real estate investment trust’s stock after purchasing an additional 30 shares during the period. Petredis Investment Advisors LLC’s holdings in Public Storage were worth $2,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Syon Capital LLC increased its position in Public Storage by 11.8% during the fourth quarter. Syon Capital LLC now owns 1,005 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 106 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Public Storage during the fourth quarter worth about $78,000. Leo Wealth LLC purchased a new position in Public Storage during the fourth quarter worth about $264,000. HighPoint Advisor Group LLC purchased a new position in Public Storage during the fourth quarter worth about $523,000. Finally, GAMMA Investing LLC boosted its stake in Public Storage by 13.4% during the first quarter. GAMMA Investing LLC now owns 660 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 78 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSA has been the subject of several research analyst reports. Barclays increased their target price on shares of Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Wells Fargo & Company increased their target price on shares of Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Morgan Stanley raised their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Evercore ISI lowered their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $337.00.

Public Storage Stock Up 0.4 %

Shares of Public Storage stock opened at $345.05 on Wednesday. Public Storage has a 52-week low of $233.18 and a 52-week high of $369.99. The company has a 50 day moving average of $343.75 and a 200 day moving average of $304.06. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $60.63 billion, a P/E ratio of 31.34, a P/E/G ratio of 4.82 and a beta of 0.68.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $4.28 EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, research analysts forecast that Public Storage will post 16.73 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.48%. Public Storage’s payout ratio is currently 108.99%.

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.