Global Wealth Management Investment Advisory Inc. Grows Stock Holdings in Public Storage (NYSE:PSA)

Global Wealth Management Investment Advisory Inc. boosted its holdings in Public Storage (NYSE:PSA) by 11.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,612 shares of the real estate investment trust’s stock after acquiring an additional 172 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Public Storage were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. AdvisorNet Financial Inc grew its stake 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 valued at $347,000 after buying an additional 35 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Public Storage by 4.1% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock valued at $289,000 after purchasing an additional 43 shares in the last quarter. Wealth Alliance grew its position in shares of Public Storage by 5.3% during the 3rd quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 43 shares in the last quarter. RB Capital Management LLC grew its position in shares of Public Storage by 1.1% during the 3rd quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after purchasing an additional 43 shares in the last quarter. Finally, Aspire Private Capital LLC grew its position in shares of Public Storage by 44.0% during the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 44 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

NYSE PSA opened at $260.15 on Thursday. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.25. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $45.71 billion, a P/E ratio of 23.63, a P/E/G ratio of 3.40 and a beta of 0.57. The company has a fifty day moving average of $277.25 and a 200-day moving average of $276.07.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. Public Storage had a return on equity of 35.99% and a net margin of 45.62%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.16 earnings per share. As a group, equities research analysts predict that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.61%. The ex-dividend date was Tuesday, March 12th. Public Storage’s dividend payout ratio is presently 108.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PSA shares. Deutsche Bank Aktiengesellschaft started 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. Barclays started coverage on shares of Public Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price target for the company. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research report on Thursday, March 28th. BMO Capital Markets boosted their price target on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group boosted their price target on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $305.00.

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.