Public Storage (NYSE:PSA) Shares Purchased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. boosted its position in Public Storage (NYSE:PSA) by 34.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,579 shares of the real estate investment trust’s stock after purchasing an additional 1,416 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Public Storage were worth $1,702,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Public Storage by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock valued at $835,032,000 after purchasing an additional 729,262 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Public Storage by 22.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,470,839 shares of the real estate investment trust’s stock valued at $633,949,000 after buying an additional 451,864 shares in the last quarter. Northern Trust Corp grew its holdings in Public Storage by 2.8% in the 3rd quarter. Northern Trust Corp now owns 2,311,981 shares of the real estate investment trust’s stock valued at $609,253,000 after buying an additional 63,289 shares in the last quarter. Morgan Stanley grew its holdings in Public Storage by 0.8% in the 3rd quarter. Morgan Stanley now owns 1,680,149 shares of the real estate investment trust’s stock valued at $442,753,000 after buying an additional 13,864 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Public Storage by 6.5% in the 3rd quarter. American Century Companies Inc. now owns 1,330,220 shares of the real estate investment trust’s stock valued at $350,540,000 after buying an additional 80,784 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of Public Storage stock opened at $259.45 on Wednesday. The business has a 50-day moving average of $277.82 and a 200 day moving average of $276.18. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The stock has a market capitalization of $45.58 billion, a price-to-earnings ratio of 23.46, a price-to-earnings-growth ratio of 3.45 and a beta of 0.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62.

Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business earned $4.16 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s dividend payout ratio is currently 108.50%.

Analysts Set New Price Targets

PSA has been the subject of several analyst reports. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price for the company in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 target price for the company. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $280.00 to $310.00 in a report on Friday, April 5th. The Goldman Sachs Group increased their price target on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Scotiabank increased their price target on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $305.00.

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.