Alexander Randolph Advisory Inc. Buys New Stake in Public Storage (NYSE:PSA)

Alexander Randolph Advisory Inc. bought a new stake in Public Storage (NYSE:PSA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 803 shares of the real estate investment trust’s stock, valued at approximately $245,000.

Several other large investors have also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc increased its position in shares of Public Storage by 3.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock valued at $347,000 after purchasing an additional 35 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Public Storage by 4.1% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 43 shares during the period. Wealth Alliance raised its holdings in Public Storage by 5.3% during the 3rd quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 43 shares during the period. RB Capital Management LLC raised its holdings in Public Storage by 1.1% during the 3rd quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock worth $1,048,000 after buying an additional 43 shares during the period. Finally, Aspire Private Capital LLC raised its holdings in Public Storage by 44.0% during the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 44 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Down 0.4 %

NYSE:PSA traded down $0.95 during mid-day trading on Friday, reaching $257.73. The stock had a trading volume of 577,684 shares, compared to its average volume of 582,087. The business’s 50 day moving average is $278.68 and its 200 day moving average is $276.34. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $312.25. The stock has a market cap of $45.28 billion, a P/E ratio of 23.30, a PEG ratio of 3.38 and a beta of 0.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62.

Public Storage (NYSE:PSA) last released 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 35.31% and a net margin of 45.34%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.16 EPS. As a group, sell-side analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.66%. Public Storage’s dividend payout ratio is 108.50%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PSA shares. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a report on Thursday, March 28th. The Goldman Sachs Group upped their target price on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 target price on the stock. BMO Capital Markets upped their target price on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Finally, Barclays began coverage on Public Storage in a report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.