Public Storage (NYSE:PSA) Shares Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC boosted its holdings in shares of Public Storage (NYSE:PSA) by 41.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 836 shares of the real estate investment trust’s stock after purchasing an additional 245 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Public Storage were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gryphon Financial Partners LLC raised its holdings in Public Storage by 2.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock valued at $476,000 after acquiring an additional 38 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Public Storage in the 4th quarter valued at about $232,000. Assetmark Inc. lifted its position in shares of Public Storage by 10.7% during the fourth quarter. Assetmark Inc. now owns 4,321 shares of the real estate investment trust’s stock worth $1,318,000 after purchasing an additional 419 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Public Storage by 107.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 44 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Public Storage by 14.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,708 shares of the real estate investment trust’s stock valued at $5,401,000 after buying an additional 2,272 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on PSA. Jefferies Financial Group increased their target price on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Evercore ISI lifted their price objective on shares of Public Storage from $334.00 to $343.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Scotiabank increased their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Wells Fargo & Company raised their price target on shares of Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada began coverage on shares of Public Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average target price of $339.08.

Public Storage Stock Performance

PSA opened at $365.01 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The business’s 50 day moving average is $328.18 and its 200-day moving average is $296.38. The stock has a market cap of $64.14 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 5.12 and a beta of 0.67. Public Storage has a twelve month low of $233.18 and a twelve month high of $366.29.

Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The business had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $4.28 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. On average, analysts predict that Public Storage will post 16.73 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.29%. Public Storage’s dividend payout ratio is presently 108.99%.

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.