Fuller & Thaler Asset Management Inc. Acquires 881 Shares of Public Storage (NYSE:PSA)

Fuller & Thaler Asset Management Inc. lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,608 shares of the real estate investment trust's stock after buying an additional 881 shares during the quarter. Fuller & Thaler Asset Management Inc.'s holdings in Public Storage were worth $4,075,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Doliver Advisors LP raised its stake in shares of Public Storage by 2.6% in the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock worth $433,000 after buying an additional 36 shares in the last quarter. Brooklyn Investment Group raised its holdings 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 valued at $345,000 after acquiring an additional 38 shares during the period. Werba Rubin Papier Wealth Management grew its position in Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock worth $681,000 after purchasing an additional 38 shares in the last quarter. Premier Path Wealth Partners LLC grew its position in Public Storage by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock worth $366,000 after purchasing an additional 40 shares in the last quarter. Finally, Global X Japan Co. Ltd. grew its position in Public Storage by 13.7% during the 4th 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 in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PSA. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target on the stock in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada reduced their price objective on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Barclays reaffirmed an "overweight" rating and issued a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Finally, Bank of America raised shares of Public Storage from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $349.00 to $368.00 in a research note on Tuesday, April 22nd. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and an average target price of $336.25.

Public Storage Price Performance

NYSE PSA traded down $1.96 on Thursday, reaching $298.47. The company's stock had a trading volume of 328,166 shares, compared to its average volume of 736,993. The firm has a market cap of $52.36 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The business has a 50-day moving average price of $294.94 and a 200 day moving average price of $308.91. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion for 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 firm's revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.03 earnings per share. Sell-side analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.02%. Public Storage's payout ratio is currently 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.