Brighton Jones LLC Purchases 152 Shares of Public Storage (NYSE:PSA)

Brighton Jones LLC grew its position in shares of Public Storage (NYSE:PSA) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,726 shares of the real estate investment trust’s stock after buying an additional 152 shares during the period. Brighton Jones LLC’s holdings in Public Storage were worth $517,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PSA. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Public Storage by 30.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock worth $40,926,000 after purchasing an additional 31,662 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Public Storage during the 4th quarter worth $395,000. Aew Capital Management L P grew its holdings in shares of Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock worth $131,574,000 after purchasing an additional 228,740 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Public Storage by 53.5% during the 4th quarter. Jones Financial Companies Lllp now owns 19,234 shares of the real estate investment trust’s stock worth $5,759,000 after purchasing an additional 6,706 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Public Storage by 1,360.5% during the 4th quarter. Meeder Asset Management Inc. now owns 1,256 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 1,170 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA stock opened at $294.60 on Tuesday. The business’s 50-day moving average price is $297.68 and its 200-day moving average price is $300.09. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The firm has a market capitalization of $51.68 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 4.91 and a beta of 0.89. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the firm posted $4.03 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

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

Analyst Upgrades and Downgrades

PSA has been the topic of several analyst reports. Evercore ISI increased their target price on Public Storage from $297.00 to $309.00 and gave the stock an “in-line” rating in a report on Friday, May 2nd. Barclays reduced their target price on Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Wells Fargo & Company reduced their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Mizuho raised their price objective on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Finally, Bank of America raised their price objective on Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.25.

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.