GW Henssler & Associates Ltd. Buys Shares of 614 Public Storage (NYSE:PSA)

GW Henssler & Associates Ltd. purchased a new position in Public Storage (NYSE:PSA) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 614 shares of the real estate investment trust’s stock, valued at approximately $223,000.

A number of other large investors also recently modified their holdings of PSA. Vanguard Group Inc. lifted its stake in shares of Public Storage by 1.0% in the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after buying an additional 217,487 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock worth $1,575,794,000 after acquiring an additional 219,391 shares during the period. APG Asset Management US Inc. grew its holdings in shares of Public Storage by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock worth $623,485,000 after purchasing an additional 100,000 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Public Storage by 8.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock valued at $343,968,000 after purchasing an additional 95,080 shares during the period. Finally, Centersquare Investment Management LLC raised its stake in shares of Public Storage by 17.2% in the first quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after purchasing an additional 173,975 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on PSA. Wells Fargo & Company lifted their price target on shares of Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research report on Monday, August 5th. Morgan Stanley increased their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada started coverage on Public Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price objective on the stock. Finally, Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $341.43.

Public Storage Trading Down 1.6 %

PSA opened at $331.26 on Wednesday. Public Storage has a 1-year low of $233.18 and a 1-year high of $369.99. The stock has a market capitalization of $57.98 billion, a PE ratio of 31.05, a PEG ratio of 4.74 and a beta of 0.68. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The firm has a 50-day moving average price of $347.97 and a two-hundred day moving average price of $308.07.

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

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given 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 dividend yield of 3.62%. Public Storage’s payout ratio is currently 112.46%.

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.