Silver Oak Securities Incorporated Acquires New Holdings in Public Storage (NYSE:PSA)

Silver Oak Securities Incorporated acquired a new stake in shares of Public Storage (NYSE:PSA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 689 shares of the real estate investment trust’s stock, valued at approximately $210,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc boosted its position in Public Storage by 3.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock valued at $347,000 after purchasing an additional 35 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Public Storage by 4.1% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 43 shares during the last quarter. Wealth Alliance raised its stake in Public Storage by 5.3% in the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 43 shares during the last quarter. RB Capital Management LLC raised its stake in Public Storage by 1.1% in the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after buying an additional 43 shares during the last quarter. Finally, Aspire Private Capital LLC raised its stake in Public Storage by 44.0% in the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 44 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.3 %

Shares of PSA stock opened at $260.15 on Thursday. The stock has a 50 day moving average of $277.25 and a 200 day moving average of $276.07. 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 stock has a market cap of $45.71 billion, a P/E ratio of 23.63, a P/E/G ratio of 3.40 and a beta of 0.57. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a net margin of 45.62% and a return on equity of 35.99%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the business posted $4.16 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s payout ratio is currently 108.99%.

Analysts Set New Price Targets

A number of research firms have commented on PSA. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Scotiabank increased their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. Barclays began coverage on Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price target for the company. The Goldman Sachs Group raised their price objective on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a research note on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $305.00.

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.