Xponance Inc. Boosts Holdings in Public Storage (NYSE:PSA)

Xponance Inc. lifted its stake in Public Storage (NYSE:PSA) by 0.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 41,106 shares of the real estate investment trust’s stock after buying an additional 62 shares during the quarter. Xponance Inc.’s holdings in Public Storage were worth $12,537,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PSA. AdvisorNet Financial Inc raised its position 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 worth $347,000 after buying an additional 35 shares during the last quarter. Kinneret Advisory LLC raised its position in Public Storage by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 1,678 shares of the real estate investment trust’s stock worth $655,000 after buying an additional 37 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Public Storage by 4.1% in 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 last quarter. Wealth Alliance raised its position in Public Storage by 5.3% in 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 last quarter. Finally, RB Capital Management LLC raised its position in 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 worth $1,048,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the subject of a number of recent research reports. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $280.00 to $310.00 in a research note on Friday, April 5th. The Goldman Sachs Group boosted 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 initiated coverage on Public Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price target for the company. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research note on Thursday, March 28th. Finally, Scotiabank boosted their price target on 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 given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $305.00.

Public Storage Price Performance

Shares of PSA traded down $0.11 during mid-day trading on Friday, hitting $260.17. 64,268 shares of the stock were exchanged, compared to its average volume of 717,971. The company has a market cap of $45.71 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 3.43 and a beta of 0.54. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.25. The firm has a 50-day moving average of $281.24 and a two-hundred day moving average of $276.35. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 0.62.

Public Storage (NYSE:PSA) last released its quarterly earnings results 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). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the company posted $4.16 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities 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. Shareholders of record on Wednesday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s dividend payout ratio (DPR) is presently 108.50%.

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.