Public Storage (NYSE:PSA) Shares Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. raised its holdings in Public Storage (NYSE:PSA - Free Report) by 46.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,877 shares of the real estate investment trust's stock after acquiring an additional 916 shares during the period. J.W. Cole Advisors Inc.'s holdings in Public Storage were worth $861,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PSA. Twin Capital Management Inc. increased its holdings in shares of Public Storage by 12.7% during the 1st quarter. Twin Capital Management Inc. now owns 4,992 shares of the real estate investment trust's stock worth $1,494,000 after buying an additional 561 shares during the last quarter. IFP Advisors Inc increased its holdings in Public Storage by 15.3% in the 1st quarter. IFP Advisors Inc now owns 3,095 shares of the real estate investment trust's stock valued at $926,000 after purchasing an additional 411 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Public Storage by 5.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,647 shares of the real estate investment trust's stock valued at $792,000 after purchasing an additional 137 shares during the last quarter. Private Advisor Group LLC increased its holdings in Public Storage by 20.1% in the 1st quarter. Private Advisor Group LLC now owns 5,215 shares of the real estate investment trust's stock valued at $1,561,000 after purchasing an additional 873 shares during the last quarter. Finally, Creekmur Asset Management LLC increased its holdings in Public Storage by 248.2% in the 1st quarter. Creekmur Asset Management LLC now owns 989 shares of the real estate investment trust's stock valued at $296,000 after purchasing an additional 705 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Up 0.1%

NYSE:PSA traded up $0.39 during midday trading on Friday, hitting $287.70. 674,373 shares of the company were exchanged, compared to its average volume of 886,742. The company has a fifty day simple moving average of $295.05 and a 200 day simple moving average of $296.05. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $50.47 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 4.19 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. Public Storage's quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business posted $4.03 earnings per share. As a group, equities analysts anticipate 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. Shareholders of record on Thursday, June 12th were paid a $3.00 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.17%. Public Storage's dividend payout ratio is presently 119.17%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PSA shares. Scotiabank lifted their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Mizuho lifted their target price on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Bank of America raised their price target on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $340.00 to $325.00 in a research report on Friday, June 20th. Finally, Evercore ISI raised their price target on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $336.93.

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.