West Oak Capital LLC Has $281,000 Stock Position in Public Storage (NYSE:PSA)

West Oak Capital LLC trimmed its position in shares of Public Storage (NYSE:PSA) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 952 shares of the real estate investment trust’s stock after selling 95 shares during the period. West Oak Capital LLC’s holdings in Public Storage were worth $281,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Public Storage by 0.3% during the second quarter. State Street Corp now owns 11,209,856 shares of the real estate investment trust’s stock worth $3,271,933,000 after acquiring an additional 34,564 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Public Storage by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 3,742,458 shares of the real estate investment trust’s stock worth $1,131,364,000 after acquiring an additional 129,555 shares in the last quarter. JPMorgan Chase & Co. raised 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 purchasing an additional 729,262 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Public Storage by 63.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,755,605 shares of the real estate investment trust’s stock valued at $832,580,000 after buying an additional 1,071,347 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 451,864 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Up 0.4 %

Shares of NYSE PSA traded up $1.04 during trading hours on Thursday, hitting $289.14. 204,161 shares of the company traded hands, compared to its average volume of 746,112. The stock has a market capitalization of $50.80 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 3.61 and a beta of 0.54. The company’s 50 day moving average price is $284.05 and its 200 day moving average price is $275.27. Public Storage has a 12 month low of $233.18 and a 12 month high of $316.48. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the company posted $4.16 EPS. Public Storage’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.15%. The ex-dividend date is Tuesday, March 12th. Public Storage’s dividend payout ratio is currently 108.50%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PSA shares. The Goldman Sachs Group boosted their price target on shares of Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Truist Financial upped their target price on shares of Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, December 28th. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a research note on Tuesday, January 30th. They set a “sell” rating and a $250.00 price target for the company. 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 note on Thursday. Finally, Scotiabank increased their target price on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.50.

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.