4WEALTH Advisors Inc. Invests $286,000 in Public Storage (NYSE:PSA)

4WEALTH Advisors Inc. purchased a new position in Public Storage (NYSE:PSA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 955 shares of the real estate investment trust's stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Barclays PLC grew its holdings in shares of Public Storage by 2.9% during the 3rd quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust's stock valued at $169,433,000 after purchasing an additional 13,065 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Public Storage in the third quarter worth about $3,713,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Public Storage in the 3rd quarter valued at about $1,466,000. Tidal Investments LLC boosted its holdings in Public Storage by 30.3% during the 3rd quarter. Tidal Investments LLC now owns 11,386 shares of the real estate investment trust's stock valued at $4,143,000 after acquiring an additional 2,646 shares during the period. Finally, Synovus Financial Corp increased its stake in Public Storage by 42.0% in the 3rd quarter. Synovus Financial Corp now owns 5,776 shares of the real estate investment trust's stock worth $2,101,000 after purchasing an additional 1,708 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday. Mizuho began coverage on shares of Public Storage in a research report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price objective on the stock. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and lifted their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a research note on Friday. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $333.75.

Public Storage Price Performance

NYSE:PSA traded up $0.11 on Monday, reaching $300.26. 861,338 shares of the company's stock traded hands, compared to its average volume of 739,527. The stock has a 50-day simple moving average of $294.65 and a 200-day simple moving average of $307.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The firm has a market cap of $52.67 billion, a PE ratio of 31.18, a P/E/G ratio of 4.91 and a beta of 0.76.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts' consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same period last year, the company posted $4.03 EPS. The business's revenue was up .1% on a year-over-year basis. Equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.00%. Public Storage's dividend payout ratio (DPR) is 119.17%.

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.