Nilsine Partners LLC Acquires 432 Shares of Public Storage (NYSE:PSA)

Nilsine Partners LLC grew its holdings in Public Storage (NYSE:PSA) by 56.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,193 shares of the real estate investment trust’s stock after acquiring an additional 432 shares during the quarter. Nilsine Partners LLC’s holdings in Public Storage were worth $346,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PSA. DAVENPORT & Co LLC grew its holdings in shares of Public Storage by 3.9% during the third quarter. DAVENPORT & Co LLC now owns 2,536 shares of the real estate investment trust’s stock worth $668,000 after buying an additional 95 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Public Storage by 49.5% during the third quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 48 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Public Storage by 4.9% during the third quarter. Exchange Traded Concepts LLC now owns 2,155 shares of the real estate investment trust’s stock worth $568,000 after buying an additional 101 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Public Storage by 1.0% during the third quarter. Handelsbanken Fonder AB now owns 58,196 shares of the real estate investment trust’s stock worth $15,336,000 after buying an additional 589 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Public Storage by 25.6% during the third quarter. Ballentine Partners LLC now owns 1,486 shares of the real estate investment trust’s stock worth $392,000 after buying an additional 303 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PSA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price objective for the company. The Goldman Sachs Group increased their price target on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Scotiabank increased their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $280.00 to $310.00 in a research report on Friday, April 5th. Finally, Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average target price of $305.00.

Public Storage Stock Performance

Shares of PSA traded down $3.48 during mid-day trading on Tuesday, reaching $259.45. The company’s stock had a trading volume of 934,347 shares, compared to its average volume of 725,064. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25. The stock has a market cap of $45.58 billion, a P/E ratio of 23.46, a PEG ratio of 3.38 and a beta of 0.54. The business has a 50-day simple moving average of $277.82 and a two-hundred day simple moving average of $276.18. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business earned $4.16 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.63%. Public Storage’s dividend payout ratio (DPR) is currently 108.50%.

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.