Highview Capital Management LLC DE Purchases 140 Shares of Public Storage (NYSE:PSA)

Highview Capital Management LLC DE boosted its position in shares of Public Storage (NYSE:PSA) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,107 shares of the real estate investment trust’s stock after buying an additional 140 shares during the quarter. Highview Capital Management LLC DE’s holdings in Public Storage were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC raised its position in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Public Storage in the fourth quarter valued at about $32,000. Synergy Asset Management LLC bought a new position in shares of Public Storage in the fourth quarter valued at about $38,000. Millstone Evans Group LLC bought a new position in shares of Public Storage in the fourth quarter valued at about $38,000. Finally, Parvin Asset Management LLC bought a new position in shares of Public Storage in the fourth quarter valued at about $38,000. 78.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Mizuho began coverage on shares of Public Storage in a research report on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 price objective on the stock. Scotiabank upped their price target on shares of Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a research note on Monday, May 12th. Evercore ISI upped their price target on shares of 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, Barclays decreased their price target on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average target price of $337.42.

Public Storage Trading Down 3.8%

Shares of Public Storage stock opened at $296.13 on Thursday. The company has a market capitalization of $51.95 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 4.91 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99. The firm’s 50-day moving average price is $293.82 and its two-hundred day moving average price is $305.26.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. The firm had revenue of $1.18 billion for 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 business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $4.03 earnings per share. On average, analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.05%. Public Storage’s payout ratio is 119.17%.

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.