762 Shares in Public Storage (NYSE:PSA) Purchased by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC purchased a new position in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 762 shares of the real estate investment trust’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its stake in Public Storage by 16.1% in the third quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock valued at $2,567,000 after acquiring an additional 1,349 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Public Storage by 8.0% in the third quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock valued at $32,638,000 after acquiring an additional 9,223 shares during the last quarter. Raymond James & Associates boosted its stake in Public Storage by 4.3% in the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after acquiring an additional 4,695 shares during the last quarter. Ellsworth Advisors LLC boosted its stake in Public Storage by 615.7% in the fourth quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock valued at $6,040,000 after acquiring an additional 17,036 shares during the last quarter. Finally, 1834 Investment Advisors Co. boosted its stake in Public Storage by 115.3% in the fourth quarter. 1834 Investment Advisors Co. now owns 16,952 shares of the real estate investment trust’s stock valued at $5,170,000 after acquiring an additional 9,078 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

NYSE PSA opened at $262.22 on Wednesday. The stock has a market cap of $46.07 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 3.49 and a beta of 0.54. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The company’s 50 day moving average is $282.12 and its two-hundred day moving average is $276.57.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($1.94). The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.16 EPS. As a group, research analysts anticipate that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Tuesday, March 12th. Public Storage’s payout ratio is presently 108.50%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PSA. BMO Capital Markets boosted their target price on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group boosted their price target on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Public Storage in a research report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target on the stock. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research report on Thursday, March 28th. Finally, Scotiabank boosted their price target on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $305.00.

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.