Capital Investment Advisors LLC Has $9.60 Million Stake in Public Storage (NYSE:PSA)

Capital Investment Advisors LLC increased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 12.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 32,061 shares of the real estate investment trust's stock after acquiring an additional 3,453 shares during the period. Capital Investment Advisors LLC's holdings in Public Storage were worth $9,596,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Stratos Wealth Partners LTD. grew its stake in Public Storage by 6.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,270 shares of the real estate investment trust's stock valued at $979,000 after buying an additional 202 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Public Storage by 11.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,978 shares of the real estate investment trust's stock worth $6,169,000 after buying an additional 2,213 shares during the period. Choreo LLC lifted its holdings in shares of Public Storage by 7.2% during the fourth quarter. Choreo LLC now owns 2,300 shares of the real estate investment trust's stock worth $682,000 after buying an additional 155 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Public Storage in the fourth quarter valued at approximately $16,215,000. Finally, Global X Japan Co. Ltd. grew its stake in shares of Public Storage by 13.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analyst Weigh In

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

Public Storage Price Performance

NYSE PSA traded down $3.92 during trading on Wednesday, reaching $300.10. 644,351 shares of the company traded hands, compared to its average volume of 745,961. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a market cap of $52.65 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 4.91 and a beta of 0.89. The stock's 50 day moving average price is $295.79 and its two-hundred day moving average price is $301.91. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping the consensus estimate of $4.06 by $0.06. The business 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%. Public Storage's revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $4.03 EPS. As a group, analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, June 12th. Public Storage's payout ratio is 119.17%.

Public Storage 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.