Public Storage (NYSE:PSA) Holdings Lifted by Clare Market Investments LLC

Clare Market Investments LLC raised its holdings in shares of Public Storage (NYSE:PSA) by 39.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,029 shares of the real estate investment trust’s stock after acquiring an additional 290 shares during the quarter. Clare Market Investments LLC’s holdings in Public Storage were worth $308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Werba Rubin Papier Wealth Management grew its position in Public Storage by 1.7% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock valued at $681,000 after purchasing an additional 38 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Public Storage by 0.9% during the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust’s stock valued at $1,287,000 after acquiring an additional 39 shares in the last quarter. Global X Japan Co. Ltd. grew its holdings in shares of Public Storage by 13.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 40 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Public Storage by 1.4% during the 4th quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust’s stock valued at $918,000 after acquiring an additional 41 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in shares of Public Storage by 4.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,090 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.1%

Shares of PSA stock opened at $303.62 on Thursday. The stock has a market cap of $53.26 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. Public Storage has a one year low of $256.60 and a one year high of $369.99. The stock has a fifty day moving average price of $295.39 and a 200 day moving average price of $303.06. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm earned $4.03 EPS. Analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PSA shares. Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a research note on Thursday, April 10th. Evercore ISI boosted their price target on Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a research note on Friday, May 2nd. Royal Bank of Canada lowered their price target on Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company decreased their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Finally, Barclays decreased their target price on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $339.25.

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.