Seven Post Investment Office LP Purchases 349 Shares of Public Storage (NYSE:PSA)

Seven Post Investment Office LP grew its position in Public Storage (NYSE:PSA) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,641 shares of the real estate investment trust’s stock after buying an additional 349 shares during the quarter. Public Storage accounts for about 2.2% of Seven Post Investment Office LP’s portfolio, making the stock its 11th largest holding. Seven Post Investment Office LP’s holdings in Public Storage were worth $8,736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its holdings in shares of Public Storage by 3.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 35 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Public Storage by 4.1% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock valued at $289,000 after acquiring an additional 43 shares during the period. Wealth Alliance raised its stake in shares of Public Storage by 5.3% during the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 43 shares during the last quarter. RB Capital Management LLC grew its stake in shares of Public Storage by 1.1% in the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock worth $1,048,000 after purchasing an additional 43 shares during the last quarter. Finally, Aspire Private Capital LLC increased its holdings 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 valued at $38,000 after purchasing an additional 44 shares during the period. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays began coverage on Public Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 target price on the stock. The Goldman Sachs Group increased their target price on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Public Storage in a research report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target on the stock. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $280.00 to $310.00 in a research note on Friday, April 5th. Finally, Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $305.00.

Public Storage Stock Up 0.7 %

Shares of PSA traded up $1.83 during trading hours on Friday, reaching $265.76. The stock had a trading volume of 662,239 shares, compared to its average volume of 697,055. The firm has a 50-day simple moving average of $276.44 and a 200 day simple moving average of $275.92. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The company has a current ratio of 0.54, a quick ratio of 0.62 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $46.69 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 3.49 and a beta of 0.57.

Public Storage (NYSE:PSA) last released its quarterly earnings data 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). Public Storage had a net margin of 45.62% and a return on equity of 36.17%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $4.16 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts predict that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s dividend payout ratio is 108.99%.

Public Storage 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.