Alaethes Wealth LLC Buys 74 Shares of Public Storage (NYSE:PSA)

Alaethes Wealth LLC boosted its position in shares of Public Storage (NYSE:PSA) by 1.7% during the 4th quarter, HoldingsChannel reports. The fund owned 4,423 shares of the real estate investment trust’s stock after buying an additional 74 shares during the quarter. Alaethes Wealth LLC’s holdings in Public Storage were worth $1,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Doliver Advisors LP raised its stake in shares of Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock valued at $433,000 after purchasing an additional 36 shares in the last quarter. Brooklyn Investment Group increased its holdings in Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 38 shares during the period. Werba Rubin Papier Wealth Management raised its stake in shares of Public Storage by 1.7% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock valued at $681,000 after buying an additional 38 shares in the last quarter. Lido Advisors LLC lifted 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 worth $1,287,000 after acquiring an additional 39 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its position in shares of Public Storage by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust’s stock valued at $366,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 0.0 %

Shares of Public Storage stock opened at $300.14 on Friday. The business has a fifty day simple moving average of $294.73 and a 200 day simple moving average of $308.30. The stock has a market cap of $52.65 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99.

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

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage’s payout ratio is presently 119.17%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PSA shares. Scotiabank raised shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and dropped their price target for the stock from $333.00 to $305.00 in a research report on Wednesday, April 9th. Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $349.00 to $368.00 in a report on Tuesday, April 22nd. Finally, Mizuho assumed 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. Five research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $333.75.

Public Storage Company 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.