Planned Solutions Inc. Buys New Shares in Public Storage (NYSE:PSA)

Planned Solutions Inc. purchased a new position in shares of Public Storage (NYSE:PSA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 355 shares of the real estate investment trust’s stock, valued at approximately $108,000.

Other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in Public Storage in the first quarter valued at $26,000. ICA Group Wealth Management LLC acquired a new position in shares of Public Storage during the 4th quarter valued at $29,000. Live Oak Investment Partners acquired a new stake in Public Storage in the 4th quarter valued at $34,000. Centerpoint Advisors LLC acquired a new position in Public Storage during the 4th quarter worth approximately $35,000. Finally, Avior Wealth Management LLC raised its stake in shares of Public Storage by 49.5% during the third quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSA. Wells Fargo & Company lowered Public Storage from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $270.00 to $280.00 in a research note on Tuesday, December 12th. BMO Capital Markets boosted their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Truist Financial increased their target price on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, December 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Public Storage in a report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target for the company. Finally, Barclays began coverage on shares of Public Storage in a report on Wednesday. They issued an “overweight” rating and a $330.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $302.50.

Public Storage Stock Performance

PSA opened at $288.10 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. The firm has a market cap of $50.62 billion, a PE ratio of 26.05, a P/E/G ratio of 3.61 and a beta of 0.54. The business has a fifty day simple moving average of $284.05 and a 200-day simple moving average of $275.27. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $316.48.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. Public Storage’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.16 earnings per share. As a group, equities analysts predict that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th will be issued a $3.00 dividend. The ex-dividend date is Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.17%. Public Storage’s dividend payout ratio is 108.50%.

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.