Golden State Equity Partners Invests $204,000 in Public Storage (NYSE:PSA)

Golden State Equity Partners purchased a new stake in Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 670 shares of the real estate investment trust’s stock, valued at approximately $204,000.

Other large investors have also added to or reduced their stakes in the company. Private Ocean LLC grew its stake in Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 109 shares in the last quarter. Centerpoint Advisors LLC acquired a new stake in shares of Public Storage during the 4th quarter worth approximately $35,000. Turtle Creek Wealth Advisors LLC bought a new position in Public Storage in the fourth quarter valued at approximately $35,000. Aspire Private Capital LLC raised its position in Public Storage by 44.0% during the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 44 shares in the last quarter. Finally, Rise Advisors LLC lifted its stake in Public Storage by 165.5% during the fourth quarter. Rise Advisors LLC now owns 146 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Barclays started coverage on shares of Public Storage in a report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 target price for the company. 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 report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Public Storage in a research note on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price objective for the company. Finally, BMO Capital Markets boosted their target price on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $305.00.

Public Storage Stock Performance

Shares of PSA stock opened at $257.73 on Monday. The stock has a market capitalization of $45.28 billion, a PE ratio of 23.30, a PEG ratio of 3.38 and a beta of 0.54. Public Storage has a one year low of $233.18 and a one year high of $312.25. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62. The business’s 50 day simple moving average is $278.68 and its 200 day simple moving average is $276.34.

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

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s payout ratio is currently 108.50%.

Public Storage Company 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.