Asset Planning Services Inc. LA ADV Has $6.69 Million Stock Holdings in Public Storage (NYSE:PSA)

Asset Planning Services Inc. LA ADV increased its position in shares of Public Storage (NYSE:PSA) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,398 shares of the real estate investment trust’s stock after purchasing an additional 420 shares during the period. Public Storage comprises about 3.3% of Asset Planning Services Inc. LA ADV’s investment portfolio, making the stock its 12th largest position. Asset Planning Services Inc. LA ADV’s holdings in Public Storage were worth $6,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its stake in Public Storage by 86.8% in the first quarter. Daiwa Securities Group Inc. now owns 645,168 shares of the real estate investment trust’s stock worth $187,137,000 after purchasing an additional 299,826 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Public Storage by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock worth $319,270,000 after acquiring an additional 281,800 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Public Storage by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after purchasing an additional 219,391 shares during the period. Vanguard Group Inc. increased its stake in Public Storage by 1.0% in the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after purchasing an additional 217,487 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Public Storage by 116.7% in the second quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after purchasing an additional 208,546 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $339.77 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The company has a fifty day simple moving average of $346.82 and a 200 day simple moving average of $306.35. Public Storage has a 12-month low of $233.18 and a 12-month high of $369.99. The company has a market cap of $59.47 billion, a P/E ratio of 31.84, a PEG ratio of 4.72 and a beta of 0.68.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company had revenue of $921.70 million during 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 was down 1.0% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.53%. The ex-dividend date was Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is 112.46%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSA. Jefferies Financial Group upped their price objective on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Scotiabank lifted their price objective on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Barclays upped their target price on shares of Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Citigroup boosted their price target on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Morgan Stanley upped their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $340.93.

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.