Valley Brook Capital Group Inc. Acquires New Holdings in Public Storage (NYSE:PSA)

Valley Brook Capital Group Inc. bought a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,875 shares of the real estate investment trust's stock, valued at approximately $1,792,000. Public Storage accounts for 1.5% of Valley Brook Capital Group Inc.'s investment portfolio, making the stock its 15th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSA. Private Ocean LLC boosted its position in Public Storage by 5,450.0% during the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 109 shares during the period. Centerpoint Advisors LLC acquired a new position in Public Storage during the 4th quarter valued at about $35,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Public Storage during the 4th quarter worth about $35,000. Aspire Private Capital LLC raised its position in shares of Public Storage by 44.0% during the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust's stock worth $38,000 after buying an additional 44 shares in the last quarter. Finally, Rise Advisors LLC lifted its stake in shares of Public Storage by 165.5% in the 4th quarter. Rise Advisors LLC now owns 146 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 91 shares during the period. Institutional investors own 78.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PSA shares. Scotiabank upped their target price on Public Storage from $267.00 to $270.00 and gave the stock a "sector perform" rating in a research report on Monday, March 18th. The Goldman Sachs Group raised their target price on Public Storage from $307.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday, January 11th. Wells Fargo & Company upgraded shares of Public Storage from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Public Storage in a research report on Tuesday, January 30th. They set a "sell" rating and a $250.00 price objective for the company. Finally, Barclays began coverage on shares of Public Storage in a report on Wednesday, March 27th. They issued an "overweight" rating and a $330.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Public Storage presently has a consensus rating of "Moderate Buy" and an average target price of $305.00.

Public Storage Trading Up 0.7 %

Public Storage stock traded up $1.83 during midday trading on Friday, reaching $265.76. The stock had a trading volume of 662,239 shares, compared to its average volume of 697,055. The firm's fifty day simple moving average is $276.44 and its two-hundred day simple moving average is $276.00. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.62. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25. The firm has a market cap of $46.69 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.49 and a beta of 0.57.

Public Storage (NYSE:PSA - Get Free Report) last issued 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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business earned $4.16 EPS. Equities analysts anticipate that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage's dividend payout ratio is currently 108.99%.

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.

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