Signaturefd LLC Purchases 285 Shares of Public Storage (NYSE:PSA)

Signaturefd LLC grew its stake in Public Storage (NYSE:PSA) by 19.1% in the first quarter, HoldingsChannel reports. The fund owned 1,779 shares of the real estate investment trust’s stock after acquiring an additional 285 shares during the period. Signaturefd LLC’s holdings in Public Storage were worth $532,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PSA. Shum Financial Group Inc. increased its position in Public Storage by 1.7% during the first quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust’s stock worth $625,000 after acquiring an additional 35 shares during the period. Lido Advisors LLC grew its stake 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. Integrated Advisors Network LLC lifted its holdings in Public Storage by 1.4% during the fourth quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust’s stock valued at $918,000 after purchasing an additional 41 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in Public Storage by 3.2% during the first quarter. Valeo Financial Advisors LLC now owns 1,313 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 41 shares during the last quarter. Finally, Atlas Brown Inc. raised its holdings in shares of Public Storage by 2.1% in the 1st quarter. Atlas Brown Inc. now owns 2,176 shares of the real estate investment trust’s stock valued at $651,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the subject of a number of research analyst reports. Royal Bank Of Canada dropped their price target on Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. BMO Capital Markets downgraded Public Storage from an “outperform” rating to a “market perform” rating and cut their price target for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Barclays lowered their price target on Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. BNP Paribas Exane started coverage on Public Storage in a research report on Tuesday, June 24th. They set an “outperform” rating and a $331.00 target price on the stock. Finally, BNP Paribas raised Public Storage to a “strong-buy” rating in a research report on Tuesday, June 24th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $337.64.

Public Storage Price Performance

Shares of NYSE:PSA opened at $283.64 on Friday. The stock has a market cap of $49.76 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 4.16 and a beta of 0.86. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The stock’s 50 day moving average price is $297.04 and its 200 day moving average price is $296.50. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, topping the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the company posted $4.03 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Equities research 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 was paid on Friday, June 27th. Investors of record on Thursday, June 12th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Thursday, June 12th. Public Storage’s dividend payout ratio is presently 119.17%.

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.