International Private Wealth Advisors LLC Makes New Investment in Public Storage (NYSE:PSA)

International Private Wealth Advisors LLC bought a new position in Public Storage (NYSE:PSA) in the 1st quarter, Holdings Channel.com reports. The fund bought 1,368 shares of the real estate investment trust’s stock, valued at approximately $409,000.

Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Public Storage by 30.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock valued at $40,926,000 after buying an additional 31,662 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Public Storage in the 4th quarter valued at approximately $395,000. Aew Capital Management L P raised its position in shares of Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock valued at $131,574,000 after acquiring an additional 228,740 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Public Storage by 53.5% during the fourth quarter. Jones Financial Companies Lllp now owns 19,234 shares of the real estate investment trust’s stock worth $5,759,000 after purchasing an additional 6,706 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Public Storage by 1,360.5% during the fourth quarter. Meeder Asset Management Inc. now owns 1,256 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 1,170 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 0.9%

Shares of PSA opened at $303.30 on Monday. The business’s 50-day moving average price is $295.50 and its 200 day moving average price is $302.14. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $53.21 billion, a P/E ratio of 31.50, a P/E/G ratio of 4.91 and a beta of 0.89. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping the consensus estimate of $4.06 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $4.03 earnings per share. Analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Thursday, June 12th. Public Storage’s dividend payout ratio is 119.17%.

Wall Street Analysts Forecast Growth

PSA has been the subject of several recent research reports. Bank of America boosted their target price on shares of Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Scotiabank boosted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a research report on Monday, May 12th. Royal Bank of Canada cut their target price on shares of Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Mizuho lifted their target price on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Finally, Evercore ISI upped their price target on shares of Public Storage from $297.00 to $309.00 and gave the stock an “in-line” rating in a research report on Friday, May 2nd. Five equities research 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 company. According to MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $339.25.

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.