J.W. Cole Advisors Inc. Acquires New Position in Public Storage (NYSE:PSA)

J.W. Cole Advisors Inc. bought a new position in Public Storage (NYSE:PSA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,875 shares of the real estate investment trust’s stock, valued at approximately $572,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Ocean LLC grew its position in Public Storage by 5,450.0% in the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 109 shares during the last quarter. Centerpoint Advisors LLC bought a new position in Public Storage in the 4th quarter worth about $35,000. Turtle Creek Wealth Advisors LLC bought a new position in Public Storage in the 4th quarter worth about $35,000. Aspire Private Capital LLC grew its position in Public Storage by 44.0% in the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 44 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in Public Storage by 49.5% in the 3rd quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PSA shares. BMO Capital Markets upped their target price on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Public Storage in a research note on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target for the company. Scotiabank upped their price target on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research note on Monday, March 18th. Truist Financial upped their price target on shares of Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th. Finally, Barclays started coverage on shares of Public Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.00.

Public Storage Price Performance

NYSE PSA opened at $261.44 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58. The company has a fifty day simple moving average of $280.36 and a 200 day simple moving average of $276.63. The company has a market cap of $45.93 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.42 and a beta of 0.54. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25.

Public Storage (NYSE:PSA) last posted 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). Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company posted $4.16 earnings per share. Public Storage’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s dividend payout ratio (DPR) is presently 108.50%.

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.