FJ Capital Management LLC Purchases New Shares in Public Storage $PSA

FJ Capital Management LLC purchased a new stake in shares of Public Storage (NYSE:PSA) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,196 shares of the real estate investment trust’s stock, valued at approximately $957,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in Public Storage during the 4th quarter valued at $30,000. Spectrum Wealth Counsel LLC purchased a new stake in Public Storage during the 1st quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage during the 1st quarter valued at $36,000. Wayfinding Financial LLC purchased a new stake in Public Storage during the 1st quarter valued at $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Public Storage during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

PSA stock opened at $294.72 on Monday. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. 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 business’s fifty day simple moving average is $287.69 and its two-hundred day simple moving average is $294.04. The firm has a market cap of $51.71 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 4.89 and a beta of 0.86.

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

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.1%. Public Storage’s dividend payout ratio is presently 130.86%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PSA shares. BNP Paribas upgraded Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. Mizuho increased their target price on Public Storage from $287.00 to $309.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. Royal Bank Of Canada reduced their target price on Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. BNP Paribas Exane assumed coverage on Public Storage in a research note on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 target price on the stock. Finally, Bank of America increased their target price on Public Storage from $368.00 to $380.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $331.62.

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.