Winch Advisory Services LLC Acquires 43 Shares of Public Storage (NYSE:PSA)

Winch Advisory Services LLC grew its holdings in shares of Public Storage (NYSE:PSA) by 39.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 151 shares of the real estate investment trust’s stock after buying an additional 43 shares during the period. Winch Advisory Services LLC’s holdings in Public Storage were worth $45,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PSA. Cohen & Steers Inc. grew its stake in Public Storage by 12.3% in the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust’s stock worth $1,626,731,000 after purchasing an additional 592,944 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Public Storage by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust’s stock valued at $1,197,769,000 after purchasing an additional 78,472 shares during the last quarter. Norges Bank purchased a new stake in shares of Public Storage during the 4th quarter valued at $931,286,000. Northern Trust Corp lifted its holdings in shares of Public Storage by 43.4% during the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust’s stock valued at $741,592,000 after purchasing an additional 749,913 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Public Storage by 10.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,702,522 shares of the real estate investment trust’s stock valued at $509,803,000 after purchasing an additional 158,665 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.6%

PSA stock traded up $1.80 during trading on Monday, reaching $285.86. The stock had a trading volume of 16,803 shares, compared to its average volume of 765,158. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $50.15 billion, a P/E ratio of 28.30, a PEG ratio of 4.14 and a beta of 0.86. The firm has a fifty day moving average price of $296.64 and a 200 day moving average price of $296.37.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $4.03 earnings per share. Public Storage’s revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, June 12th. Public Storage’s payout ratio is presently 119.17%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of research analyst reports. BNP Paribas Exane initiated coverage on Public Storage in a research note on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 target price for the company. Barclays lowered their price objective on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Mizuho increased their price objective on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research note on Thursday, April 10th. Finally, BNP Paribas upgraded shares of Public Storage to a “strong-buy” rating in a research note on Tuesday, June 24th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $337.64.

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.