Flavin Financial Services Inc. Purchases 380 Shares of Public Storage (NYSE:PSA)

Flavin Financial Services Inc. increased its position in shares of Public Storage (NYSE:PSA) by 21.1% in the 1st quarter, HoldingsChannel reports. The fund owned 2,177 shares of the real estate investment trust’s stock after acquiring an additional 380 shares during the period. Flavin Financial Services Inc.’s holdings in Public Storage were worth $651,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Public Storage by 30.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock worth $40,926,000 after purchasing an additional 31,662 shares during the last quarter. Brighton Jones LLC grew its position in Public Storage by 9.7% during the 1st quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust’s stock worth $517,000 after purchasing an additional 152 shares during the last quarter. Meridian Wealth Management LLC purchased a new stake in Public Storage during the 4th quarter worth approximately $395,000. Aew Capital Management L P grew its position in Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock worth $131,574,000 after purchasing an additional 228,740 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Public Storage by 53.5% during the 4th quarter. Jones Financial Companies Lllp now owns 19,234 shares of the real estate investment trust’s stock worth $5,759,000 after purchasing an additional 6,706 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of several research analyst reports. BNP Paribas raised shares of Public Storage to a “strong-buy” rating in a research report on Tuesday. BNP Paribas Exane began coverage on shares of Public Storage in a research report on Tuesday. They set an “outperform” rating and a $331.00 target price on the stock. Truist Financial raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a report on Thursday, April 10th. Mizuho increased their price target on shares of Public Storage from $287.00 to $309.00 and gave the stock a “neutral” rating in a report on Wednesday, May 28th. Finally, Bank of America increased their price target on shares of Public Storage from $368.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $337.64.

Public Storage Price Performance

Shares of NYSE PSA opened at $289.69 on Thursday. The firm has a 50-day simple moving average of $298.81 and a 200-day simple moving average of $298.47. The stock has a market capitalization of $50.82 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 4.28 and a beta of 0.89. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.03 earnings per share. On average, equities analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage’s payout ratio is currently 119.17%.

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.