Stanley Laman Group Ltd. Buys New Stake in Public Storage (NYSE:PSA)

Stanley Laman Group Ltd. bought a new stake in Public Storage (NYSE:PSA) during the first quarter, according to its most recent filing with the SEC. The firm bought 1,350 shares of the real estate investment trust’s stock, valued at approximately $404,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC grew its stake in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Public Storage in the 4th quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage in the 4th quarter valued at $32,000. Millstone Evans Group LLC bought a new stake in Public Storage in the 4th quarter valued at $38,000. Finally, Parvin Asset Management LLC bought a new stake in Public Storage in the 4th quarter valued at $38,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSA has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Royal Bank of Canada reduced their price target on shares of Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Evercore ISI increased their price target on shares of Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a report on Friday, May 2nd. Mizuho increased their price target on shares of Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a report on Wednesday, May 28th. Finally, Scotiabank increased their price target on shares of Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $339.25.

Public Storage Price Performance

NYSE:PSA opened at $294.85 on Friday. The company has a 50-day moving average of $297.10 and a 200-day moving average of $301.16. The company has a market capitalization of $51.73 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 4.91 and a beta of 0.89. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm earned $4.03 EPS. As a group, equities research analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, June 12th. Public Storage’s dividend payout ratio (DPR) is currently 119.17%.

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.