MGO One Seven LLC Increases Stock Position in Public Storage $PSA

MGO One Seven LLC raised its holdings in Public Storage (NYSE:PSA) by 397.7% during the 2nd quarter, Holdings Channel reports. The firm owned 12,797 shares of the real estate investment trust’s stock after purchasing an additional 10,226 shares during the quarter. MGO One Seven LLC’s holdings in Public Storage were worth $3,755,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Marshall & Sullivan Inc. WA acquired a new stake in Public Storage during the second quarter worth approximately $25,000. Spectrum Wealth Counsel LLC acquired a new stake in Public Storage during the first quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in Public Storage during the first quarter worth approximately $36,000. Wayfinding Financial LLC acquired a new stake in Public Storage during the first quarter worth approximately $41,000. Finally, Winch Advisory Services LLC boosted its position in Public Storage by 39.8% during the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $299.69 on Tuesday. The firm’s 50 day moving average is $288.00 and its two-hundred day moving average is $291.52. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $355.87. 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 company has a market cap of $52.58 billion, a P/E ratio of 32.68, a P/E/G ratio of 4.88 and a beta of 0.89.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted $4.23 EPS. The business’s revenue for the quarter 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 expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 130.86%.

Wall Street Analyst Weigh In

PSA has been the topic of a number of analyst reports. BNP Paribas upgraded shares of Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. 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 on the stock. Wells Fargo & Company cut their price target on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd. Finally, Scotiabank cut their price target on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.92.

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.