1,875 Shares in Public Storage (NYSE:PSA) Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. acquired a new position in shares of Public Storage (NYSE:PSA) in the 4th quarter, Holdings Channel.com reports. The firm acquired 1,875 shares of the real estate investment trust’s stock, valued at approximately $572,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Public Storage by 16.1% in the third quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock worth $2,567,000 after acquiring an additional 1,349 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 worth $32,638,000 after acquiring an additional 9,223 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Public Storage by 4.3% in the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock worth $34,917,000 after acquiring an additional 4,695 shares during the last quarter. Ellsworth Advisors LLC lifted its holdings in shares of Public Storage by 615.7% in the fourth quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock worth $6,040,000 after acquiring an additional 17,036 shares during the last quarter. Finally, 1834 Investment Advisors Co. lifted its holdings in shares of Public Storage by 115.3% in the fourth quarter. 1834 Investment Advisors Co. now owns 16,952 shares of the real estate investment trust’s stock worth $5,170,000 after acquiring an additional 9,078 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $261.44 on Tuesday. The company has a fifty day moving average of $280.36 and a 200-day moving average of $276.63. The firm has a market capitalization of $45.93 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.42 and a beta of 0.54. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25.

Public Storage (NYSE:PSA) last released its quarterly earnings data 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). The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.16 EPS. As a group, sell-side analysts anticipate that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

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 4.59%. The ex-dividend date was Tuesday, March 12th. Public Storage’s payout ratio is currently 108.50%.

Analyst Ratings Changes

Several research firms have recently issued reports on PSA. Truist Financial upped their price objective on Public Storage from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. The Goldman Sachs Group upped their price objective on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. BMO Capital Markets upped their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Barclays began coverage on Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price objective for the company. Finally, Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $280.00 to $310.00 in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $305.00.

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.