Twin Capital Management Inc. Has $1.61 Million Stock Holdings in Public Storage (NYSE:PSA)

Twin Capital Management Inc. lifted its position in shares of Public Storage (NYSE:PSA) by 99.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,269 shares of the real estate investment trust’s stock after acquiring an additional 2,623 shares during the period. Twin Capital Management Inc.’s holdings in Public Storage were worth $1,607,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new stake in shares of Public Storage during the first quarter worth $26,000. ICA Group Wealth Management LLC acquired a new stake in shares of Public Storage during the fourth quarter worth $29,000. Private Ocean LLC lifted its holdings in shares of Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 109 shares in the last quarter. Live Oak Investment Partners acquired a new stake in shares of Public Storage during the fourth quarter worth $34,000. Finally, Centerpoint Advisors LLC acquired a new stake in shares of Public Storage during the fourth quarter worth $35,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft began 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. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research report on Thursday, March 28th. Barclays began coverage on Public Storage in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $305.00.

Public Storage Stock Performance

Public Storage stock opened at $260.28 on Friday. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25. 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’s 50-day moving average price is $281.24 and its two-hundred day moving average price is $276.35. The stock has a market cap of $45.73 billion, a PE ratio of 23.53, a P/E/G ratio of 3.43 and a beta of 0.54.

Public Storage (NYSE:PSA) last released its earnings results 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 business 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 earned $4.16 EPS. The business’s revenue was up 6.6% on a year-over-year basis. As a group, analysts expect that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s payout ratio 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.