Brown Advisory Inc. Acquires 141 Shares of Public Storage (NYSE:PSA)

Brown Advisory Inc. increased its holdings in shares of Public Storage (NYSE:PSA) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,020 shares of the real estate investment trust’s stock after acquiring an additional 141 shares during the period. Brown Advisory Inc.’s holdings in Public Storage were worth $2,751,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PSA. Independent Advisor Alliance purchased a new stake in Public Storage in the 4th quarter valued at about $219,000. Montrusco Bolton Investments Inc. boosted its holdings in shares of Public Storage by 10.6% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 743,893 shares of the real estate investment trust’s stock valued at $221,534,000 after purchasing an additional 71,428 shares during the period. Laffer Tengler Investments Inc. grew its stake in Public Storage by 3.9% in the fourth quarter. Laffer Tengler Investments Inc. now owns 20,947 shares of the real estate investment trust’s stock worth $6,389,000 after purchasing an additional 777 shares in the last quarter. Fairhaven Wealth Management LLC increased its holdings in Public Storage by 15.9% during the 4th quarter. Fairhaven Wealth Management LLC now owns 8,912 shares of the real estate investment trust’s stock worth $2,718,000 after purchasing an additional 1,225 shares during the period. Finally, Beacon Pointe Advisors LLC increased its holdings in Public Storage by 0.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 11,439 shares of the real estate investment trust’s stock worth $3,489,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Activity

In other Public Storage news, Director Kristy Pipes acquired 2,149 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the completion of the purchase, the director now directly owns 2,149 shares of the company’s stock, valued at $599,485.04. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSA. Deutsche Bank Aktiengesellschaft assumed coverage on Public Storage in a research report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price target on the stock. BMO Capital Markets increased their target price on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Barclays reduced their price target on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a report on Monday. 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. Finally, Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $280.00 to $310.00 in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $304.75.

Public Storage Stock Performance

Shares of PSA stock opened at $274.36 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. The company has a market cap of $48.21 billion, a PE ratio of 24.92, a PEG ratio of 3.95 and a beta of 0.57. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25. The business’s fifty day simple moving average is $274.91 and its 200-day simple moving average is $278.92.

Public Storage (NYSE:PSA) last announced its earnings results 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 business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a net margin of 45.62% and a return on equity of 36.17%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.16 earnings per share. Analysts expect that Public Storage will post 16.91 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.37%. Public Storage’s payout ratio is presently 108.99%.

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.