Point72 Asia Singapore Pte. Ltd. Makes New $43,000 Investment in Public Storage (NYSE:PSA)

Point72 Asia Singapore Pte. Ltd. bought a new position in Public Storage (NYSE:PSA) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 142 shares of the real estate investment trust’s stock, valued at approximately $43,000.

Other large investors have also recently modified their holdings of the company. Brooklyn Investment Group raised its stake in Public Storage by 3.4% in the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock worth $345,000 after buying an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its position 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 acquiring an additional 38 shares in the last quarter. Lido Advisors LLC raised its position in shares of Public Storage by 0.9% in 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 in the last quarter. Premier Path Wealth Partners LLC lifted its stake in shares of Public Storage by 3.4% in 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 purchasing an additional 40 shares during the period. Finally, Global X Japan Co. Ltd. boosted its position in shares of Public Storage by 13.7% during 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 in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

NYSE PSA opened at $309.07 on Monday. Public Storage has a one year low of $256.60 and a one year high of $369.99. The stock has a 50-day moving average of $293.46 and a 200 day moving average of $305.41. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $54.22 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 4.91 and a beta of 0.91.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm posted $4.03 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

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 issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.88%. The ex-dividend date is Thursday, June 12th. Public Storage’s dividend payout ratio is currently 119.17%.

Wall Street Analyst Weigh In

PSA has been the subject of several recent research reports. Evercore ISI raised their price objective on Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a research report on Friday, May 2nd. Mizuho started coverage on shares of Public Storage in a research note on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price objective on the stock. Truist Financial raised Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a report on Thursday, April 10th. Royal Bank of Canada dropped 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. Finally, Barclays cut their price objective on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a research report on Friday. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $337.42.

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.