Wealth Enhancement Advisory Services LLC Buys 83,995 Shares of Public Storage $PSA

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 108.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,210 shares of the real estate investment trust’s stock after acquiring an additional 83,995 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.09% of Public Storage worth $47,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in shares of Public Storage by 13.3% in the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 373 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Public Storage in the 2nd quarter valued at about $929,000. NorthCrest Asset Manangement LLC bought a new stake in shares of Public Storage during the 2nd quarter valued at about $330,000. Diversified Trust Co bought a new stake in Public Storage in the second quarter worth approximately $418,000. Finally, Farther Finance Advisors LLC lifted its stake in Public Storage by 3.8% in the second quarter. Farther Finance Advisors LLC now owns 2,332 shares of the real estate investment trust’s stock valued at $684,000 after buying an additional 86 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSA. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. UBS Group decreased their price objective on Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Truist Financial upped their target price on Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley assumed coverage on shares of Public Storage in a research report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $313.19.

Public Storage Stock Down 1.8%

NYSE:PSA traded down $5.36 during trading hours on Tuesday, hitting $288.54. 53,441 shares of the company traded hands, compared to its average volume of 1,175,208. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. The company has a market cap of $50.63 billion, a PE ratio of 29.96, a PEG ratio of 7.16 and a beta of 1.01. The firm’s 50-day simple moving average is $270.74 and its 200-day simple moving average is $282.46. Public Storage has a one year low of $256.54 and a one year high of $322.49.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm earned $4.20 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.