Montrusco Bolton Investments Inc. lifted its position in Public Storage (NYSE:PSA - Free Report) by 7.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 715,030 shares of the real estate investment trust's stock after acquiring an additional 52,345 shares during the period. Public Storage accounts for 2.7% of Montrusco Bolton Investments Inc.'s holdings, making the stock its 17th largest position. Montrusco Bolton Investments Inc. owned about 0.41% of Public Storage worth $207,191,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in Public Storage during the fourth quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Public Storage in the fourth quarter valued at $32,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage in the first quarter valued at $36,000. Millstone Evans Group LLC purchased a new stake in Public Storage in the fourth quarter valued at $38,000. Finally, Parvin Asset Management LLC purchased a new stake in Public Storage in the fourth quarter valued at $38,000. 78.79% of the stock is owned by institutional investors and hedge funds.
Public Storage Stock Down 0.7%
NYSE PSA traded down $1.92 on Thursday, hitting $283.64. 1,027,870 shares of the stock traded hands, compared to its average volume of 766,212. The stock has a 50-day moving average of $297.38 and a 200 day moving average of $296.58. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a market capitalization of $49.76 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77.
Public Storage (NYSE:PSA - Get Free Report) last announced 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 firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. Public Storage's revenue for the quarter 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, analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.
Public Storage Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is 119.17%.
Wall Street Analyst Weigh In
PSA has been the topic of several research analyst reports. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective on the stock in a report on Thursday, April 10th. BNP Paribas raised Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Barclays reduced their price target on Public Storage from $354.00 to $351.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Mizuho lifted their price objective on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Finally, Royal Bank Of Canada reduced their price objective on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $337.64.
Read Our Latest Report on Public Storage
About Public Storage
(
Free Report)
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.
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