FORA Capital LLC Buys Shares of 11,705 Public Storage (NYSE:PSA)

FORA Capital LLC bought a new stake in Public Storage (NYSE:PSA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,705 shares of the real estate investment trust's stock, valued at approximately $3,505,000.

Several other institutional investors and hedge funds have also bought and sold shares of PSA. Quent Capital LLC grew its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after buying an additional 50 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Public Storage during the 4th quarter valued at approximately $32,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the fourth quarter worth $38,000. Millstone Evans Group LLC purchased a new stake in shares of Public Storage during the fourth quarter valued at $38,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Public Storage in the 4th quarter valued at $38,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

Public Storage stock traded up $3.23 during trading on Friday, reaching $303.93. The company had a trading volume of 460,106 shares, compared to its average volume of 744,212. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm's 50-day simple moving average is $294.18 and its 200 day simple moving average is $306.67. The firm has a market capitalization of $53.32 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts' consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.03 earnings per share. As a group, equities research analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Thursday, June 12th. Public Storage's payout ratio is 119.17%.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of research reports. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a report on Thursday, April 10th. Wells Fargo & Company dropped their price objective 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. Royal Bank of Canada decreased their target price on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Scotiabank raised Public Storage from a "sector perform" rating to a "sector outperform" rating and cut their price target for the stock from $333.00 to $305.00 in a research report on Wednesday, April 9th. Finally, Mizuho started coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage presently has an average rating of "Moderate Buy" and a consensus price target of $333.75.

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.