Coldstream Capital Management Inc. Has $481,000 Stock Holdings in Public Storage (NYSE:PSA)

Coldstream Capital Management Inc. lifted its holdings in Public Storage (NYSE:PSA) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,576 shares of the real estate investment trust’s stock after purchasing an additional 88 shares during the period. Coldstream Capital Management Inc.’s holdings in Public Storage were worth $481,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PSA. MainStreet Investment Advisors LLC lifted its holdings in Public Storage by 15.1% in the 4th quarter. MainStreet Investment Advisors LLC now owns 17,715 shares of the real estate investment trust’s stock worth $5,403,000 after purchasing an additional 2,327 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in Public Storage by 117.5% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,626 shares of the real estate investment trust’s stock valued at $15,136,000 after buying an additional 26,810 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Public Storage in the 4th quarter worth $232,000. Norges Bank acquired a new position in Public Storage during the 4th quarter worth $821,151,000. Finally, ING Groep NV boosted its holdings in Public Storage by 207.7% during the fourth quarter. ING Groep NV now owns 2,665 shares of the real estate investment trust’s stock valued at $813,000 after acquiring an additional 1,799 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kristy Pipes acquired 2,149 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the purchase, the director now 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 can be accessed through this hyperlink. 11.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSA has been the subject of several research analyst reports. Barclays cut their price objective on Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a research report on Monday. 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 on the stock. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a report on Thursday, March 28th. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. Finally, Scotiabank increased their target price on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.75.

Public Storage Stock Down 3.1 %

Shares of PSA opened at $274.36 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average price of $274.91 and a two-hundred day moving average price of $278.92. The stock has a market cap of $48.21 billion, a price-to-earnings ratio of 24.92, a P/E/G 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.

Public Storage (NYSE:PSA) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business earned $4.16 EPS. Public Storage’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts predict that Public Storage will post 16.91 EPS for the current fiscal year.

Public Storage Announces Dividend

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

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.