Public Storage (NYSE:PSA) Shares Bought by Gallacher Capital Management LLC

Gallacher Capital Management LLC lifted its holdings in shares of Public Storage (NYSE:PSA) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,745 shares of the real estate investment trust’s stock after buying an additional 79 shares during the period. Gallacher Capital Management LLC’s holdings in Public Storage were worth $532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSA. Private Ocean LLC boosted its position in 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 acquiring an additional 109 shares during the period. Centerpoint Advisors LLC acquired a new stake in Public Storage in the fourth quarter worth about $35,000. Turtle Creek Wealth Advisors LLC bought a new position in Public Storage in the 4th quarter valued at about $35,000. Aspire Private Capital LLC increased its stake in Public Storage by 44.0% during the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 44 shares during the period. Finally, Rise Advisors LLC raised 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 worth $44,000 after buying an additional 91 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on PSA shares. Barclays began coverage on shares of Public Storage in a report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price objective for the company. Scotiabank lifted their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. Raymond James raised 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 raised their target price on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Finally, The Goldman Sachs Group lifted their target price on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.00.

Public Storage Trading Up 0.7 %

Shares of NYSE:PSA traded up $1.83 during midday trading on Friday, reaching $265.76. The company had a trading volume of 662,239 shares, compared to its average volume of 697,055. The company has a fifty day simple moving average of $276.44 and a two-hundred day simple moving average of $276.00. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.62 and a current ratio of 0.54. The firm 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. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25.

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 the consensus estimate of $4.15 by ($1.94). Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business earned $4.16 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a dividend of $3.00 per share. 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 currently 108.99%.

About Public Storage

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.