Inspire Advisors LLC Has $932,000 Stock Holdings in Public Storage (NYSE:PSA)

Inspire Advisors LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 17.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,560 shares of the real estate investment trust’s stock after purchasing an additional 373 shares during the quarter. Inspire Advisors LLC’s holdings in Public Storage were worth $932,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PSA. Petredis Investment Advisors LLC grew its holdings in shares of Public Storage by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after buying an additional 30 shares during the last quarter. Signet Financial Management LLC lifted its position in Public Storage by 2.1% during the first quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 39 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Public Storage by 0.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock worth $1,201,000 after purchasing an additional 39 shares in the last quarter. Brookstone Capital Management boosted its stake in Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after buying an additional 40 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its holdings in shares of Public Storage by 3.5% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $357,000 after purchasing an additional 42 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of PSA traded up $0.08 during trading hours on Friday, hitting $345.48. The stock had a trading volume of 98,695 shares, compared to its average volume of 707,312. The firm has a market capitalization of $60.47 billion, a PE ratio of 32.38, a PEG ratio of 4.84 and a beta of 0.68. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a fifty day moving average price of $345.15 and a 200 day moving average price of $304.65. Public Storage has a 12 month low of $233.18 and a 12 month high of $369.99.

Public Storage (NYSE:PSA) last released 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). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The company had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $4.28 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts anticipate that Public Storage will post 16.73 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.47%. The ex-dividend date was Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.46%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley lifted their price target on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target for the company. in a research note on Monday, August 5th. Scotiabank lifted their price target on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company upped their price target on Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.