Focus Partners Wealth Grows Stock Position in Public Storage (NYSE:PSA)

Focus Partners Wealth increased its stake in Public Storage (NYSE:PSA - Free Report) by 60.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,971 shares of the real estate investment trust's stock after purchasing an additional 5,237 shares during the quarter. Focus Partners Wealth's holdings in Public Storage were worth $4,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Brooklyn Investment Group increased its position in shares of Public Storage by 3.4% during the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock worth $345,000 after acquiring an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its holdings in shares of Public Storage by 1.7% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock valued at $681,000 after buying an additional 38 shares during the last quarter. Lido Advisors LLC increased its stake in shares of Public Storage by 0.9% during the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock worth $1,287,000 after purchasing an additional 39 shares during the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of Public Storage by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock valued at $366,000 after buying an additional 40 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its position in Public Storage by 13.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock worth $100,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Down 0.0%

Shares of NYSE PSA traded down $0.09 during trading on Tuesday, hitting $309.37. The stock had a trading volume of 85,288 shares, compared to its average volume of 773,306. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a market capitalization of $54.27 billion, a PE ratio of 32.13, a PEG ratio of 4.91 and a beta of 0.91. The firm has a fifty day moving average of $293.57 and a two-hundred day moving average of $305.30. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

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 the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $4.03 EPS. The company's revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a $3.00 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 3.88%. Public Storage's dividend payout ratio is currently 119.17%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSA. 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 research report on Thursday, April 10th. Barclays cut their price target on Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research note on Friday. Scotiabank lifted their target price on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, Evercore ISI boosted their target price 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. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and an average target price of $337.42.

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.