Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Public Storage (NYSE:PSA – Get Rating) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 804 shares of the real estate investment trust’s stock after acquiring an additional 105 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Public Storage were worth $301,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in shares of Public Storage in the 4th quarter valued at $25,000. Lee Financial Co purchased a new stake in Public Storage in the fourth quarter valued at $27,000. CVA Family Office LLC acquired a new position in Public Storage in the fourth quarter valued at $30,000. Stonebridge Capital Advisors LLC grew its holdings in shares of Public Storage by 119.0% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 92 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 50 shares during the last quarter. Finally, TAP Consulting LLC acquired a new stake in shares of Public Storage during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 78.54% of the company’s stock.
A number of research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Public Storage from $357.00 to $298.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 25th. The Goldman Sachs Group raised their target price on shares of Public Storage from $398.00 to $440.00 and gave the stock a “neutral” rating in a research report on Thursday, April 14th. Raymond James reduced their price target on shares of Public Storage from $375.00 to $365.00 in a research report on Monday, May 23rd. BMO Capital Markets raised shares of Public Storage from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $410.00 to $370.00 in a research report on Thursday, May 19th. Finally, StockNews.com lowered shares of Public Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $372.91.
Public Storage (NYSE:PSA – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.96). Public Storage had a return on equity of 38.01% and a net margin of 54.79%. The firm had revenue of $749.27 million for the quarter, compared to analysts’ expectations of $985.58 million. During the same period in the prior year, the company earned $2.82 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts forecast that Public Storage will post 15.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.69%. Public Storage’s dividend payout ratio (DPR) is presently 77.75%.
Public Storage Company Profile (Get Rating)
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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.
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