Bison Wealth LLC Makes New $218,000 Investment in Public Storage (NYSE:PSA)

Bison Wealth LLC purchased a new stake in shares of Public Storage (NYSE:PSA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 715 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. Beverly Hills Private Wealth LLC bought a new position in Public Storage in the 4th quarter valued at approximately $233,000. Conning Inc. boosted its position in shares of Public Storage by 8.6% during the fourth quarter. Conning Inc. now owns 9,105 shares of the real estate investment trust’s stock valued at $2,777,000 after buying an additional 718 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Public Storage by 12.8% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 879,773 shares of the real estate investment trust’s stock worth $268,331,000 after buying an additional 100,033 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in Public Storage in the 4th quarter worth about $1,208,000. Finally, Louisiana State Employees Retirement System bought a new position in Public Storage during the 4th quarter valued at about $2,928,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of research analyst reports. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research note on Thursday, March 28th. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. Scotiabank increased their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. Truist Financial raised their price target on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th. Finally, BMO Capital Markets upped their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.00.

Public Storage Stock Down 0.2 %

NYSE PSA opened at $261.67 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. Public Storage has a 52 week low of $233.18 and a 52 week high of $312.25. The company has a market capitalization of $45.97 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 3.44 and a beta of 0.54. The stock’s 50-day moving average price is $281.73 and its 200-day moving average price is $276.46.

Public Storage (NYSE:PSA) last released its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $4.16 EPS. On average, equities research analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.59%. Public Storage’s dividend payout ratio is presently 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.