Capital Management Associates Inc Buys Shares of 4,609 Public Storage (NYSE:PSA)

Capital Management Associates Inc purchased a new stake in Public Storage (NYSE:PSA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,609 shares of the real estate investment trust's stock, valued at approximately $1,406,000. Public Storage accounts for about 1.2% of Capital Management Associates Inc's investment portfolio, making the stock its 15th biggest holding.

Several other hedge funds have also bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its position in Public Storage by 1.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 166,557 shares of the real estate investment trust's stock valued at $50,691,000 after purchasing an additional 2,868 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Public Storage by 13.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,464 shares of the real estate investment trust's stock worth $752,000 after acquiring an additional 296 shares during the last quarter. LDR Capital Management LLC boosted its holdings in Public Storage by 62.4% during the 4th quarter. LDR Capital Management LLC now owns 6,701 shares of the real estate investment trust's stock worth $2,044,000 after acquiring an additional 2,576 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in Public Storage by 24.0% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,559 shares of the real estate investment trust's stock worth $475,000 after acquiring an additional 302 shares during the last quarter. Finally, Park Place Capital Corp boosted its holdings in Public Storage by 28.0% during the 4th quarter. Park Place Capital Corp now owns 206 shares of the real estate investment trust's stock worth $63,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

Public Storage stock traded up $1.93 during midday trading on Friday, reaching $282.57. The stock had a trading volume of 436,914 shares, compared to its average volume of 677,025. Public Storage has a 12 month low of $233.18 and a 12 month high of $316.48. The firm's 50-day moving average price is $283.02 and its 200 day moving average price is $275.89. The firm has a market capitalization of $49.64 billion, a PE ratio of 25.55, a P/E/G ratio of 3.68 and a beta of 0.54. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $4.16 earnings per share. The company's revenue was up 6.6% on a year-over-year basis. As a group, research analysts predict that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date was Tuesday, March 12th. Public Storage's dividend payout ratio is currently 108.50%.

Analysts Set New Price Targets

A number of research firms have issued reports on PSA. BMO Capital Markets lifted their price objective on shares of Public Storage from $325.00 to $330.00 and gave the stock an "outperform" rating in a report on Tuesday, March 19th. Scotiabank lifted their price objective on shares of Public Storage from $267.00 to $270.00 and gave the stock a "sector perform" rating in a report on Monday, March 18th. Wells Fargo & Company raised shares of Public Storage from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $280.00 to $310.00 in a report on Friday. The Goldman Sachs Group lifted their price objective on shares of Public Storage from $307.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, January 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a research note on Tuesday, January 30th. They set a "sell" rating and a $250.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $305.00.

Public Storage Company 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.