Public Storage (NYSE:PSA) Shares Bought by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 897.2% during the 4th quarter, HoldingsChannel reports. The firm owned 19,176 shares of the real estate investment trust’s stock after purchasing an additional 17,253 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Public Storage were worth $5,849,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. AdvisorNet Financial Inc grew its holdings in Public Storage by 3.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 35 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Public Storage by 4.1% during the third 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 purchasing an additional 43 shares during the period. Wealth Alliance boosted its holdings in Public Storage by 5.3% in the 3rd quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 43 shares during the last quarter. RB Capital Management LLC grew its stake in shares of Public Storage by 1.1% in the 3rd quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after buying an additional 43 shares during the period. Finally, Aspire Private Capital LLC increased its holdings in shares of 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 last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Up 0.7 %

PSA traded up $1.83 during trading hours on Friday, hitting $265.76. 662,239 shares of the company’s stock were exchanged, compared to its average volume of 697,055. The firm has a market cap of $46.69 billion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 3.46 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 company has a current ratio of 0.54, a quick ratio of 0.62 and a debt-to-equity ratio of 1.59. The firm has a 50 day moving average of $276.44 and a 200 day moving average of $275.92.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.16 EPS. Analysts predict that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s dividend payout ratio is currently 108.99%.

Analysts Set New Price Targets

PSA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price objective on the stock. The Goldman Sachs Group upped their price target on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Barclays assumed coverage on Public Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price objective for the company. BMO Capital Markets upped their target price on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $280.00 to $310.00 in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.