IVC Wealth Advisors LLC Has $544,000 Stock Position in Public Storage $PSA

IVC Wealth Advisors LLC grew its position in Public Storage (NYSE:PSA) by 8.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,853 shares of the real estate investment trust’s stock after buying an additional 141 shares during the period. IVC Wealth Advisors LLC’s holdings in Public Storage were worth $544,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new stake in shares of Public Storage during the 1st quarter valued at $271,196,000. Goldman Sachs Group Inc. raised its position in shares of Public Storage by 68.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock valued at $348,670,000 after acquiring an additional 475,342 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after acquiring an additional 143,575 shares during the last quarter. Deutsche Bank AG raised its position in shares of Public Storage by 9.8% during the 1st quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock valued at $462,774,000 after acquiring an additional 138,486 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Public Storage during the 1st quarter valued at $35,178,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI upped their target price on shares of Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a research report on Friday. Royal Bank Of Canada dropped their target price on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a research report on Friday, August 1st. BNP Paribas Exane assumed coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price for the company. Wall Street Zen lowered shares of Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, Scotiabank decreased their price target on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus target price of $322.92.

Public Storage Price Performance

Shares of PSA stock opened at $293.74 on Friday. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87. The firm has a market capitalization of $51.54 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 4.87 and a beta of 0.89. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a fifty day moving average of $286.68 and a 200-day moving average of $291.47.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. Public Storage’s dividend payout ratio is presently 130.86%.

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.