Old Port Advisors Boosts Stock Position in Public Storage (NYSE:PSA)

Old Port Advisors lifted its position in Public Storage (NYSE:PSAGet Rating) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,462 shares of the real estate investment trust’s stock after buying an additional 273 shares during the quarter. Old Port Advisors’ holdings in Public Storage were worth $1,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ronald Blue Trust Inc. purchased a new stake in Public Storage during the 2nd quarter worth about $37,000. HHM Wealth Advisors LLC boosted its position in shares of Public Storage by 65.6% during the 3rd quarter. HHM Wealth Advisors LLC now owns 101 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 40 shares in the last quarter. Private Ocean LLC acquired a new position in shares of Public Storage during the 3rd quarter worth about $31,000. Old North State Trust LLC acquired a new position in shares of Public Storage during the 3rd quarter worth about $42,000. Finally, American National Bank boosted its position in shares of Public Storage by 75.0% during the 3rd quarter. American National Bank now owns 147 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 77.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com assumed coverage on Public Storage in a research report on Thursday. They set a “hold” rating for the company. Raymond James cut Public Storage from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Public Storage presently has an average rating of “Hold” and a consensus target price of $368.91.

Public Storage Stock Performance

Shares of PSA stock opened at $295.67 on Friday. The company has a market cap of $51.97 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. The stock has a 50 day simple moving average of $296.40 and a 200-day simple moving average of $296.72. Public Storage has a 12-month low of $270.13 and a 12-month high of $421.76. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.18.

Public Storage (NYSE:PSAGet Rating) last issued its earnings results on Tuesday, February 21st. The real estate investment trust reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($1.93). The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Public Storage had a return on equity of 72.77% and a net margin of 101.60%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the company posted $3.54 earnings per share. On average, equities analysts forecast that Public Storage will post 16.77 EPS for the current year.

Public Storage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Wednesday, March 15th will be paid a $3.00 dividend. This is an increase from Public Storage’s previous quarterly dividend of $2.00. This represents a $12.00 annualized dividend and a yield of 4.06%. The ex-dividend date is Tuesday, March 14th. Public Storage’s dividend payout ratio (DPR) is presently 51.09%.

Public Storage Company Profile

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Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.

Further Reading

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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