Public Storage (NYSE:PSA) Shares Bought by Vicus Capital

Vicus Capital lifted its stake in shares of Public Storage (NYSE:PSA) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 799 shares of the real estate investment trust’s stock after purchasing an additional 47 shares during the period. Vicus Capital’s holdings in Public Storage were worth $291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. OFI Invest Asset Management acquired a new position in Public Storage during the second quarter worth $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage during the 2nd quarter worth $36,000. Riverview Trust Co purchased a new position in shares of Public Storage during the 1st quarter worth $37,000. Crewe Advisors LLC purchased a new position in shares of Public Storage during the 1st quarter worth $39,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Public Storage during the 2nd quarter worth $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Up 0.9 %

Shares of NYSE:PSA opened at $334.98 on Wednesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $58.63 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 4.87 and a beta of 0.68. The firm’s 50-day moving average is $346.44 and its two-hundred day moving average is $306.11. Public Storage has a 1 year low of $233.18 and a 1 year high of $369.99.

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

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid 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 3.58%. Public Storage’s dividend payout ratio (DPR) is presently 112.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PSA. Jefferies Financial Group lifted their price target on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company lifted their price target on Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada began coverage on Public Storage in a report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price target on the stock. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a report on Thursday, August 1st. Finally, Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $340.93.

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.