Signet Financial Management LLC Buys 69 Shares of Public Storage (NYSE:PSA)

Signet Financial Management LLC increased its holdings in shares of Public Storage (NYSE:PSA) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,874 shares of the real estate investment trust’s stock after purchasing an additional 69 shares during the quarter. Signet Financial Management LLC’s holdings in Public Storage were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Public Storage by 3.6% during the first quarter. Geode Capital Management LLC now owns 3,742,458 shares of the real estate investment trust’s stock valued at $1,131,364,000 after purchasing an additional 129,555 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 valued at $835,032,000 after purchasing an additional 729,262 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Public Storage by 63.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,755,605 shares of the real estate investment trust’s stock valued at $832,580,000 after purchasing an additional 1,071,347 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Public Storage by 22.4% during 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 purchasing an additional 451,864 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Public Storage during the fourth quarter valued at $670,512,000. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. BMO Capital Markets upped 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. Deutsche Bank Aktiengesellschaft assumed coverage on Public Storage in a research report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price objective for the company. Barclays assumed coverage on Public Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price objective for the company. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective for the company in a research report on Thursday, March 28th. Finally, Scotiabank upped their price objective on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $305.00.

Public Storage Stock Performance

NYSE PSA opened at $262.22 on Wednesday. The firm has a market cap of $46.07 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 3.49 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. The business has a 50-day moving average price of $282.12 and a 200-day moving average price of $276.57. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $4.16 EPS. As a group, equities research analysts predict that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Tuesday, March 12th. Public Storage’s dividend payout ratio (DPR) is 108.50%.

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.