Seven Post Investment Office LP Raises Stock Holdings in Public Storage (NYSE:PSA)

Seven Post Investment Office LP increased its stake in shares of Public Storage (NYSE:PSA) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,641 shares of the real estate investment trust’s stock after purchasing an additional 349 shares during the period. Public Storage makes up 2.2% of Seven Post Investment Office LP’s investment portfolio, making the stock its 11th largest holding. Seven Post Investment Office LP’s holdings in Public Storage were worth $8,736,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its position in Public Storage by 3.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 35 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Public Storage by 4.1% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock worth $289,000 after acquiring an additional 43 shares during the period. Wealth Alliance increased its position in Public Storage by 5.3% during the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 43 shares during the last quarter. RB Capital Management LLC lifted its holdings in Public Storage by 1.1% in the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after acquiring an additional 43 shares during the period. Finally, Aspire Private Capital LLC boosted its position in Public Storage by 44.0% in the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

NYSE PSA traded up $1.83 on Friday, reaching $265.76. The company had a trading volume of 662,239 shares, compared to its average volume of 697,055. The firm’s 50 day moving average price is $276.44 and its 200 day moving average price is $275.92. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The stock has a market capitalization of $46.69 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57. The company has a quick ratio of 0.62, a current ratio of 0.54 and a debt-to-equity ratio of 1.59.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm posted $4.16 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a dividend of $3.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.52%. Public Storage’s dividend payout ratio is currently 108.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PSA shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Public Storage in a research report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price target for the company. Scotiabank lifted their price target on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research note on Monday, March 18th. Barclays assumed coverage on Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price objective for the company. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $280.00 to $310.00 in a research note on Friday, April 5th. Finally, BMO Capital Markets lifted their target price on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.00.

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.