748 Shares in Public Storage (NYSE:PSA) Acquired by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC acquired a new position in Public Storage (NYSE:PSA) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 748 shares of the real estate investment trust’s stock, valued at approximately $228,000.

Several other institutional investors have also modified their holdings of PSA. Private Ocean LLC grew its position in shares of Public Storage by 5,450.0% in the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 109 shares in the last quarter. Centerpoint Advisors LLC acquired a new position in Public Storage in the fourth quarter worth $35,000. Turtle Creek Wealth Advisors LLC acquired a new position in Public Storage in the fourth quarter worth $35,000. Aspire Private Capital LLC increased its stake in Public Storage by 44.0% during the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 44 shares during the last quarter. Finally, Rise Advisors LLC raised its holdings in shares of Public Storage by 165.5% during the fourth quarter. Rise Advisors LLC now owns 146 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 2.0 %

Public Storage stock opened at $262.95 on Tuesday. Public Storage has a 52 week low of $233.18 and a 52 week high of $312.25. The stock has a market cap of $46.20 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 3.38 and a beta of 0.54. The company’s 50-day moving average price is $278.31 and its two-hundred day moving average price is $276.27. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58.

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 (EPS) 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 during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business earned $4.16 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. On average, analysts expect that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.56%. Public Storage’s dividend payout ratio is currently 108.50%.

Analysts Set New Price Targets

Several research firms recently weighed in on PSA. The Goldman Sachs Group increased their price objective on shares of Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research report on Thursday, March 28th. BMO Capital Markets boosted their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Barclays assumed coverage on Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Public Storage in a report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price target for the company. One investment 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $305.00.

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.