Valley Brook Capital Group Inc. Invests $1.79 Million in Public Storage (NYSE:PSA)

Valley Brook Capital Group Inc. bought a new stake in Public Storage (NYSE:PSA) during the fourth quarter, HoldingsChannel.com reports. The fund bought 5,875 shares of the real estate investment trust’s stock, valued at approximately $1,792,000. Public Storage makes up about 1.5% of Valley Brook Capital Group Inc.’s investment portfolio, making the stock its 15th biggest position.

Several other institutional investors have also recently bought and sold shares of PSA. Second Half Financial Partners LLC acquired a new stake in shares of Public Storage in the third quarter valued at approximately $290,129,000. JPMorgan Chase & Co. boosted its stake in shares of Public Storage by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock worth $835,032,000 after buying an additional 729,262 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Public Storage by 555.6% in the 3rd quarter. Lazard Asset Management LLC now owns 615,154 shares of the real estate investment trust’s stock valued at $162,104,000 after acquiring an additional 521,322 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Public Storage by 22.4% in the third 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 acquiring an additional 451,864 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Public Storage by 29.0% during the third quarter. Invesco Ltd. now owns 1,141,415 shares of the real estate investment trust’s stock worth $300,786,000 after acquiring an additional 256,326 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the topic of several recent analyst reports. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. Barclays initiated coverage on shares of Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price target for the company. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a research note on Thursday, March 28th. BMO Capital Markets upped their target price on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group boosted their price target on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.00.

Public Storage Stock Performance

Shares of Public Storage stock traded up $1.83 on Friday, hitting $265.76. The stock had a trading volume of 662,239 shares, compared to its average volume of 697,055. The stock has a market cap of $46.69 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57. The company has a quick ratio of 0.62, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25. The business’s 50 day moving average is $276.44 and its two-hundred day moving average is $276.00.

Public Storage (NYSE:PSA) last issued its quarterly earnings data 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 45.62% and a return on equity of 36.17%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company earned $4.16 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts forecast that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s dividend payout ratio (DPR) is 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.