U.S. Capital Wealth Advisors LLC Has $5.85 Million Stake in Public Storage (NYSE:PSA)

U.S. Capital Wealth Advisors LLC increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 897.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,176 shares of the real estate investment trust's stock after buying an additional 17,253 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Public Storage were worth $5,849,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Second Half Financial Partners LLC bought a new position in Public Storage during the 3rd quarter valued at $290,129,000. JPMorgan Chase & Co. lifted its position in shares of Public Storage by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust's stock worth $835,032,000 after purchasing an additional 729,262 shares during the last quarter. Lazard Asset Management LLC grew its stake in Public Storage by 555.6% in the third quarter. Lazard Asset Management LLC now owns 615,154 shares of the real estate investment trust's stock worth $162,104,000 after purchasing an additional 521,322 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Public Storage by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,470,839 shares of the real estate investment trust's stock valued at $633,949,000 after buying an additional 451,864 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Public Storage by 29.0% during the third quarter. Invesco Ltd. now owns 1,141,415 shares of the real estate investment trust's stock valued at $300,786,000 after buying an additional 256,326 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Price Performance

Shares of NYSE:PSA traded up $1.83 on Friday, reaching $265.76. 662,239 shares of the company traded hands, compared to its average volume of 697,055. The stock has a market capitalization of $46.69 billion, a PE ratio of 24.14, a P/E/G ratio of 3.46 and a beta of 0.57. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.62. The company's 50 day moving average is $276.44 and its 200-day moving average is $275.92. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $312.25.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.14 billion. Public Storage had a net margin of 45.62% and a return on equity of 36.17%. The company's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.16 earnings per share. As a group, analysts anticipate that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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 4.52%. The ex-dividend date was Tuesday, March 12th. Public Storage's dividend payout ratio is 108.99%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PSA shares. BMO Capital Markets boosted their price target on Public Storage from $325.00 to $330.00 and gave the company an "outperform" rating in a report on Tuesday, March 19th. Barclays started coverage on shares of Public Storage in a research report on Wednesday, March 27th. They issued an "overweight" rating and a $330.00 price target on the stock. Wells Fargo & Company raised shares of Public Storage from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $280.00 to $310.00 in a research report on Friday, April 5th. Raymond James raised shares of Public Storage from a "market perform" rating to a "strong-buy" rating and set a $330.00 target price on the stock in a report on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Public Storage in a report on Tuesday, January 30th. They set a "sell" rating and a $250.00 target price for the company. One 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.