Public Storage (NYSE:PSA) Shares Bought by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. increased its stake in Public Storage (NYSE:PSA) by 7,142.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,387 shares of the real estate investment trust’s stock after purchasing an additional 7,285 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Public Storage were worth $2,253,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PSA. AdvisorNet Financial Inc lifted its position in shares of Public Storage by 3.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 35 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Public Storage by 4.1% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock worth $289,000 after purchasing an additional 43 shares in the last quarter. Wealth Alliance grew its holdings in Public Storage by 5.3% in the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 43 shares during the last quarter. RB Capital Management LLC increased its position 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 valued at $1,048,000 after buying an additional 43 shares in the last quarter. Finally, Aspire Private Capital LLC raised its stake in shares of 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 worth $38,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $265.76 on Friday. The company has a market cap of $46.69 billion, a P/E ratio of 24.14, a P/E/G 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 52 week low of $233.18 and a 52 week high of $312.25. The business has a fifty day simple moving average of $276.44 and a 200-day simple moving average of $275.92.

Public Storage (NYSE:PSA) last announced 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). The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a net margin of 45.62% and a return on equity of 36.17%. Public Storage’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $4.16 EPS. Equities research analysts forecast that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were given 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 was Tuesday, March 12th. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSA. The Goldman Sachs Group raised their target price 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. BMO Capital Markets raised their price objective on shares of 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 raised Public Storage from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research report on Thursday, March 28th. Finally, Barclays began coverage on Public Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $305.00.

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.