Public Storage (NYSE:PSA) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its holdings in shares of Public Storage (NYSE:PSA) by 47.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,184 shares of the real estate investment trust’s stock after buying an additional 383 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Public Storage were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Integrated Wealth Concepts LLC grew its holdings in Public Storage by 16.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock valued at $2,567,000 after purchasing an additional 1,349 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings 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 purchasing an additional 9,223 shares during the last quarter. Raymond James & Associates grew its stake in Public Storage by 4.3% during the 4th quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after purchasing an additional 4,695 shares in the last quarter. Ellsworth Advisors LLC increased its holdings in Public Storage by 615.7% during the 4th quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock worth $6,040,000 after purchasing an additional 17,036 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Public Storage by 8.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 163,191 shares of the real estate investment trust’s stock valued at $49,773,000 after purchasing an additional 12,574 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Down 1.5 %

Shares of NYSE PSA opened at $269.12 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The company has a market cap of $47.28 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 3.49 and a beta of 0.57. The business has a fifty day simple moving average of $276.12 and a 200-day simple moving average of $276.24.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $4.16 EPS. Sell-side analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.46%. Public Storage’s payout ratio is 108.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PSA shares. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target for the company. Scotiabank lifted their price target on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a research note on Thursday, March 28th. BMO Capital Markets lifted their target price on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Finally, The Goldman Sachs Group increased their price target on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given 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.

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.