U.S. Capital Wealth Advisors LLC Acquires 17,253 Shares of Public Storage (NYSE:PSA)

U.S. Capital Wealth Advisors LLC raised its holdings in shares of Public Storage (NYSE:PSA) by 897.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSA. Integrated Wealth Concepts LLC increased its position in Public Storage by 16.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock valued at $2,567,000 after purchasing an additional 1,349 shares during the period. The Manufacturers Life Insurance Company lifted its position in Public Storage by 8.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock valued at $32,638,000 after acquiring an additional 9,223 shares during the period. Raymond James & Associates boosted its stake in Public Storage by 4.3% during the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock worth $34,917,000 after acquiring an additional 4,695 shares in the last quarter. Ellsworth Advisors LLC grew its holdings in Public Storage by 615.7% in the fourth quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock worth $6,040,000 after purchasing an additional 17,036 shares during the period. Finally, 1834 Investment Advisors Co. increased its stake in shares of Public Storage by 115.3% during the fourth quarter. 1834 Investment Advisors Co. now owns 16,952 shares of the real estate investment trust’s stock valued at $5,170,000 after purchasing an additional 9,078 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

Shares of NYSE PSA traded up $1.83 during midday trading on Friday, hitting $265.76. 662,239 shares of the company’s stock traded hands, compared to its average volume of 697,055. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.62 and a current ratio of 0.54. The stock has a market capitalization of $46.69 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 3.46 and a beta of 0.57. The firm has a fifty day moving average of $276.44 and a 200 day moving average of $275.92. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share 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 the consensus estimate of $1.14 billion. Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.16 earnings per share. On average, analysts forecast that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSA. Scotiabank increased their target price on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research note on Monday, March 18th. BMO Capital Markets raised their price objective on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Public Storage in a report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price target on the stock. The Goldman Sachs Group boosted 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, Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price for the company in a report on Thursday, March 28th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.00.

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.