Crestmont Private Wealth LLC Invests $288,000 in Public Storage (NYSE:PSA)

Crestmont Private Wealth LLC purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 962 shares of the real estate investment trust's stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds have also modified their holdings of PSA. Quent Capital LLC grew its holdings in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 50 shares during the period. Ameriflex Group Inc. acquired a new position in Public Storage during the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Public Storage during the fourth quarter valued at approximately $32,000. Millstone Evans Group LLC acquired a new position in Public Storage during the fourth quarter valued at approximately $38,000. Finally, Parvin Asset Management LLC acquired a new position in Public Storage during the fourth quarter valued at approximately $38,000. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

PSA traded down $2.90 on Thursday, reaching $300.39. The stock had a trading volume of 795,836 shares, compared to its average volume of 748,050. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $52.70 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The firm has a 50-day moving average of $295.39 and a 200-day moving average of $303.06.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The firm's revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.03 earnings per share. As a group, sell-side analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 3.99%. Public Storage's dividend payout ratio (DPR) is presently 119.17%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSA. Wells Fargo & Company cut their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Bank of America boosted their price objective on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Royal Bank of Canada lowered their target price on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Mizuho boosted their target price on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Finally, Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $339.25.

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.