Axxcess Wealth Management LLC Has $361,000 Stock Position in Public Storage (NYSE:PSA)

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

Several other institutional investors have also made changes to their positions in PSA. U.S. Capital Wealth Advisors LLC increased its position in Public Storage by 897.2% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,176 shares of the real estate investment trust’s stock worth $5,849,000 after buying an additional 17,253 shares during the last quarter. Merit Financial Group LLC raised its stake in shares of Public Storage by 2.2% in the 4th quarter. Merit Financial Group LLC now owns 4,295 shares of the real estate investment trust’s stock valued at $1,310,000 after acquiring an additional 94 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Public Storage by 7,142.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,387 shares of the real estate investment trust’s stock worth $2,253,000 after purchasing an additional 7,285 shares during the period. Summit Global Investments grew its holdings in Public Storage by 17.5% during the fourth quarter. Summit Global Investments now owns 4,897 shares of the real estate investment trust’s stock valued at $1,494,000 after purchasing an additional 730 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its stake in shares of Public Storage by 8.7% in the fourth quarter. Natixis Advisors L.P. now owns 46,594 shares of the real estate investment trust’s stock worth $14,211,000 after buying an additional 3,736 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. 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 target price for the company. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock 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 lifted their target price for the company from $280.00 to $310.00 in a research report on Friday, April 5th. Scotiabank lifted their price objective on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. Finally, Barclays began coverage on Public Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 target price for the company. One research 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’s stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.00.

Public Storage Stock Down 1.5 %

PSA opened at $269.12 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a fifty day moving average of $276.12 and a 200-day moving average of $276.24. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $312.25. The company has a market capitalization of $47.28 billion, a P/E ratio of 24.44, a P/E/G ratio of 3.49 and a beta of 0.57.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.14 billion. During the same period in the prior year, the company earned $4.16 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts expect that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

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

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.