Public Storage (NYSE:PSA) Shares Purchased by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. boosted its holdings in Public Storage (NYSE:PSA) by 45.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,318 shares of the real estate investment trust’s stock after buying an additional 412 shares during the period. Koshinski Asset Management Inc.’s holdings in Public Storage were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSA. OFI Invest Asset Management purchased a new stake in Public Storage in the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the 2nd quarter valued at $36,000. Riverview Trust Co acquired a new stake in shares of Public Storage during the 1st quarter worth $37,000. Crewe Advisors LLC purchased a new position in shares of Public Storage in the 1st quarter worth $39,000. Finally, EdgeRock Capital LLC acquired a new position in Public Storage in the second quarter valued at $39,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

PSA stock opened at $343.88 on Tuesday. The stock’s 50 day moving average is $343.10 and its two-hundred day moving average is $303.67. Public Storage has a 52-week low of $233.18 and a 52-week high of $369.99. The company has a market capitalization of $60.19 billion, a PE ratio of 32.23, a P/E/G ratio of 4.82 and a beta of 0.68. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). The company had revenue of $921.70 million during the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $4.28 earnings per share. Analysts predict that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.49%. Public Storage’s dividend payout ratio (DPR) is 112.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Royal Bank of Canada began coverage on Public Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 price objective on the stock. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a report on Monday, August 5th. Evercore ISI decreased their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday. Barclays raised their target price on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.00.

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.