Leo Wealth LLC Buys Shares of 600 Public Storage (NYSE:PSA)

Leo Wealth LLC purchased a new position in shares of Public Storage (NYSE:PSA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 600 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Petredis Investment Advisors LLC raised its position in shares of Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after purchasing an additional 30 shares during the last quarter. Signet Financial Management LLC grew its stake in Public Storage by 2.1% during the 1st 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. increased its holdings in shares of Public Storage by 0.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock valued at $1,201,000 after purchasing an additional 39 shares during the period. Brookstone Capital Management lifted its holdings in shares of Public Storage by 3.4% during the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after purchasing an additional 40 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its holdings in Public Storage by 3.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of analyst reports. Morgan Stanley raised their price objective on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Citigroup increased their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Evercore ISI dropped 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, October 14th. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a report on Thursday, August 1st. Finally, Scotiabank boosted their target price on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $340.93.

Public Storage Trading Up 0.9 %

PSA opened at $334.98 on Wednesday. Public Storage has a 52 week low of $233.18 and a 52 week high of $369.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72. The business has a fifty day simple moving average of $346.44 and a 200-day simple moving average of $306.11. The firm has a market cap of $58.63 billion, a P/E ratio of 31.39, a P/E/G ratio of 4.87 and a beta of 0.68.

Public Storage (NYSE:PSA) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing the consensus estimate of $4.20 by ($1.54). The firm 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 business’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.28 earnings per share. On average, equities analysts expect that Public Storage will post 16.73 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.58%. Public Storage’s dividend payout ratio (DPR) is presently 112.46%.

Public Storage Company 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.