Planned Solutions Inc. Makes New $108,000 Investment in Public Storage (NYSE:PSA)

Planned Solutions Inc. purchased a new stake in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 355 shares of the real estate investment trust’s stock, valued at approximately $108,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSA. Norges Bank purchased a new stake in Public Storage in the 4th quarter worth approximately $670,512,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Public Storage by 111,535.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,246,968 shares of the real estate investment trust’s stock worth $349,388,000 after purchasing an additional 1,245,851 shares during the period. Second Half Financial Partners LLC purchased a new stake in shares of Public Storage in the third quarter worth $290,129,000. Price T Rowe Associates Inc. MD boosted its stake in Public Storage by 63.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,755,605 shares of the real estate investment trust’s stock valued at $832,580,000 after buying an additional 1,071,347 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Public Storage by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock worth $835,032,000 after buying an additional 729,262 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Public Storage in a report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price objective for the company. Scotiabank increased their price target on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. BMO Capital Markets lifted their price objective on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Barclays initiated coverage on Public Storage in a research report on Wednesday. They set an “overweight” rating and a $330.00 price target on the stock. Finally, The Goldman Sachs Group upped their price objective on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $302.50.

Public Storage Stock Performance

Public Storage stock opened at $288.10 on Thursday. Public Storage has a twelve month low of $233.18 and a twelve month high of $316.48. 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 company has a market capitalization of $50.62 billion, a P/E ratio of 26.05, a PEG ratio of 3.61 and a beta of 0.54. The stock’s 50 day moving average is $284.05 and its 200 day moving average is $275.27.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($1.94). The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. Public Storage’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.16 earnings per share. On average, equities research analysts predict that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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

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.