MQS Management LLC Makes New Investment in Public Storage $PSA

MQS Management LLC bought a new position in Public Storage (NYSE:PSA) in the 4th quarter, Holdings Channel reports. The firm bought 3,762 shares of the real estate investment trust’s stock, valued at approximately $976,000. Public Storage makes up 0.6% of MQS Management LLC’s investment portfolio, making the stock its 17th biggest holding.

Several other hedge funds have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Public Storage by 1.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 37 shares during the period. Doliver Advisors LP lifted its holdings in shares of Public Storage by 1.0% in the 4th quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust’s stock worth $1,071,000 after buying an additional 39 shares during the period. Arkadios Wealth Advisors lifted its stake in shares of Public Storage by 2.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,746 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 40 shares during the last quarter. Covestor Ltd lifted its stake in shares of Public Storage by 9.4% during the 3rd quarter. Covestor Ltd now owns 467 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 40 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in shares of Public Storage by 18.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 41 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PSA shares. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group restated a “buy” rating and set a $341.00 price objective on shares of Public Storage in a research note on Wednesday, April 29th. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $330.00 to $295.00 in a research note on Thursday, February 5th. Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Finally, Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective for the company. in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Public Storage currently has an average rating of “Hold” and a consensus price target of $314.33.

Public Storage Trading Down 0.0%

Shares of NYSE PSA opened at $304.96 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $53.54 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 4.17 and a beta of 1.00. Public Storage has a 1-year low of $256.54 and a 1-year high of $313.51. The business has a fifty day moving average price of $293.18 and a 200 day moving average price of $284.88.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company posted $4.12 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities research analysts expect that Public Storage will post 16.89 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s dividend payout ratio is currently 123.84%.

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.