Cetera Investment Advisers Acquires 2,070 Shares of Public Storage (NYSE:PSA)

Cetera Investment Advisers boosted its holdings in shares of Public Storage (NYSE:PSA) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,601 shares of the real estate investment trust’s stock after purchasing an additional 2,070 shares during the period. Cetera Investment Advisers’ holdings in Public Storage were worth $13,954,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC increased its position in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage during the fourth quarter worth about $32,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the fourth quarter worth approximately $38,000. Millstone Evans Group LLC bought a new position in shares of Public Storage in the fourth quarter valued at approximately $38,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Public Storage in the 4th quarter worth approximately $38,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Evercore ISI upped their price objective on Public Storage from $297.00 to $309.00 and gave the stock an “in-line” rating in a report on Friday, May 2nd. Mizuho started coverage on Public Storage in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 target price for the company. Truist Financial raised Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $333.75.

Public Storage Stock Performance

Shares of Public Storage stock opened at $303.93 on Friday. The company has a 50 day moving average of $294.18 and a 200-day moving average of $306.90. The company has a market cap of $53.31 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.03 earnings per share. As a group, equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 3.95%. Public Storage’s dividend payout ratio (DPR) is presently 119.17%.

Public Storage 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.