Pacific Capital Wealth Advisors Inc. Makes New $129,000 Investment in Public Storage (NYSE:PSA)

Pacific Capital Wealth Advisors Inc. bought a new position in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 424 shares of the real estate investment trust’s stock, valued at approximately $129,000.

Several other institutional investors also recently modified their holdings of the business. Private Ocean LLC raised its stake in shares of Public Storage by 5,450.0% during the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 109 shares during the period. Centerpoint Advisors LLC bought a new stake in shares of Public Storage in the 4th quarter worth approximately $35,000. Turtle Creek Wealth Advisors LLC bought a new position in Public Storage during the fourth quarter valued at $35,000. Aspire Private Capital LLC increased its position in Public Storage by 44.0% in the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 44 shares during the last quarter. Finally, Rise Advisors LLC lifted its position in shares of Public Storage by 165.5% during the 4th quarter. Rise Advisors LLC now owns 146 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 91 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Public Storage Trading Down 1.5 %

NYSE:PSA traded down $4.08 during trading hours on Wednesday, reaching $269.12. The company’s stock had a trading volume of 466,452 shares, compared to its average volume of 725,493. The firm has a 50-day simple moving average of $276.12 and a 200-day simple moving average of $276.24. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25. The firm has a market capitalization of $47.28 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 3.49 and a beta of 0.57.

Public Storage (NYSE:PSA) last released its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Public Storage had a net margin of 45.62% and a return on equity of 36.17%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $4.16 EPS. Research analysts expect that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.46%. Public Storage’s dividend payout ratio (DPR) 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.