Ethic Inc. Acquires 2,618 Shares of Public Storage (NYSE:PSA)

Ethic Inc. raised its holdings in Public Storage (NYSE:PSA) by 21.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,093 shares of the real estate investment trust’s stock after purchasing an additional 2,618 shares during the quarter. Ethic Inc.’s holdings in Public Storage were worth $4,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brooklyn Investment Group boosted its stake in shares of Public Storage by 3.4% during the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock worth $345,000 after acquiring an additional 38 shares during the period. Werba Rubin Papier Wealth Management lifted its holdings in Public Storage by 1.7% during 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 purchasing an additional 38 shares during the last quarter. Lido Advisors LLC boosted its position in Public Storage by 0.9% during the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust’s stock worth $1,287,000 after purchasing an additional 39 shares during the period. Premier Path Wealth Partners LLC increased its holdings in shares of Public Storage by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust’s stock valued at $366,000 after purchasing an additional 40 shares during the last quarter. Finally, Global X Japan Co. Ltd. raised its position in shares of Public Storage by 13.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

PSA stock opened at $303.93 on Friday. The company’s 50-day moving average price is $294.18 and its two-hundred day moving average price is $306.67. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market cap of $53.31 billion, a P/E ratio of 31.56, a P/E/G ratio of 4.91 and a beta of 0.91.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating the consensus estimate of $4.06 by $0.06. The business 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 company’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $4.03 earnings per share. On average, analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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 paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage’s dividend payout ratio (DPR) is presently 119.17%.

Analysts Set New Price Targets

PSA has been the topic of a number of research reports. Royal Bank of Canada decreased their price target on shares of Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. 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. Finally, Scotiabank upgraded Public Storage from a “sector perform” rating to a “sector outperform” rating and lowered their price objective for the stock from $333.00 to $305.00 in a research report on Wednesday, April 9th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $333.75.

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.