Dixon Hughes Goodman Wealth Advisors LLC Makes New $41,000 Investment in Public Storage (NYSE:PSA)

Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in Public Storage (NYSE:PSA – Get Rating) during the first quarter, according to its most recent filing with the SEC. The firm acquired 106 shares of the real estate investment trust’s stock, valued at approximately $41,000.

A number of other institutional investors also recently modified their holdings of PSA. New York State Teachers Retirement System raised its position in shares of Public Storage by 0.5% in the 4th quarter. New York State Teachers Retirement System now owns 184,864 shares of the real estate investment trust’s stock worth $69,243,000 after purchasing an additional 954 shares during the last quarter. NorthRock Partners LLC lifted its position in shares of Public Storage by 15.0% in the fourth quarter. NorthRock Partners LLC now owns 906 shares of the real estate investment trust’s stock worth $339,000 after buying an additional 118 shares in the last quarter. Hartford Investment Management Co. increased its holdings in shares of Public Storage by 8.3% in the 4th quarter. Hartford Investment Management Co. now owns 15,588 shares of the real estate investment trust’s stock worth $5,839,000 after buying an additional 1,200 shares during the last quarter. LPL Financial LLC lifted its position in Public Storage by 4.0% in the fourth quarter. LPL Financial LLC now owns 59,444 shares of the real estate investment trust’s stock worth $22,265,000 after buying an additional 2,262 shares during the last quarter. Finally, Capital Analysts LLC lifted its stake in Public Storage by 50.7% in the fourth quarter. Capital Analysts LLC now owns 306 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 103 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.

Public Storage stock opened at $298.54 on Monday. The stock has a market cap of $52.38 billion, a PE ratio of 29.01, a P/E/G ratio of 2.73 and a beta of 0.29. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.07 and a quick ratio of 2.07. The stock’s fifty day moving average is $346.36 and its two-hundred day moving average is $357.90. Public Storage has a 1-year low of $292.32 and a 1-year high of $421.76.

Public Storage (NYSE:PSA – Get Rating) last issued its earnings results on Tuesday, May 3rd. The real estate investment trust reported $2.63 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.96). Public Storage had a return on equity of 38.01% and a net margin of 54.79%. The business had revenue of $749.27 million for the quarter, compared to analyst estimates of $985.58 million. During the same period last year, the business posted $2.82 EPS. Public Storage’s revenue was up 15.8% on a year-over-year basis. On average, research analysts expect that Public Storage will post 15.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, June 14th. Public Storage’s dividend payout ratio is currently 77.75%.

A number of research firms have recently issued reports on PSA. Morgan Stanley dropped their price target on Public Storage from $357.00 to $298.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 25th. Truist Financial cut their target price on Public Storage from $425.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. JPMorgan Chase & Co. raised their price target on shares of Public Storage from $385.00 to $434.00 and gave the company an “overweight” rating in a research report on Monday, April 4th. BMO Capital Markets upgraded shares of Public Storage from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $410.00 to $370.00 in a research report on Thursday, May 19th. Finally, The Goldman Sachs Group boosted their target price on Public Storage from $398.00 to $440.00 and gave the stock a “neutral” rating in a report on Thursday, April 14th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $372.91.

Public Storage Company Profile (Get Rating)

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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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