Brown Advisory Inc. Has $2.60 Million Holdings in Public Storage (NYSE:PSA)

Brown Advisory Inc. grew its position in shares of Public Storage (NYSE:PSA) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,686 shares of the real estate investment trust’s stock after buying an additional 512 shares during the quarter. Brown Advisory Inc.’s holdings in Public Storage were worth $2,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PSA. Ameriflex Group Inc. acquired a new stake in Public Storage in the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage in the 4th quarter valued at $32,000. Opal Wealth Advisors LLC bought a new stake in Public Storage in the first quarter worth $36,000. Millstone Evans Group LLC bought a new stake in Public Storage in the fourth quarter worth $38,000. Finally, Parvin Asset Management LLC acquired a new position in Public Storage during the fourth quarter worth $38,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA stock opened at $288.81 on Friday. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a market capitalization of $50.67 billion, a P/E ratio of 28.68, a P/E/G ratio of 4.18 and a beta of 0.86. The stock has a 50 day moving average of $298.17 and a two-hundred day moving average of $296.85. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77.

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, topping the consensus estimate of $4.06 by $0.06. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the business earned $4.03 earnings per share. Public Storage’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Thursday, June 12th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Thursday, June 12th. Public Storage’s payout ratio is 119.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BNP Paribas Exane began coverage on Public Storage in a report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 price objective on the stock. BMO Capital Markets downgraded Public Storage from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $340.00 to $325.00 in a report on Friday, June 20th. Evercore ISI lifted their price target on shares of Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a research report on Friday, May 2nd. Mizuho upped their price objective 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 raised their target price on shares of Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $337.64.

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.