SGL Investment Advisors Inc. Boosts Stock Holdings in Public Storage (NYSE:PSA)

SGL Investment Advisors Inc. lifted its stake in Public Storage (NYSE:PSA) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,519 shares of the real estate investment trust’s stock after purchasing an additional 324 shares during the period. Public Storage comprises about 2.2% of SGL Investment Advisors Inc.’s holdings, making the stock its 19th largest holding. SGL Investment Advisors Inc.’s holdings in Public Storage were worth $4,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSA. Brooklyn Investment Group boosted its stake in shares of Public Storage by 3.4% in the 4th quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 38 shares during the period. Werba Rubin Papier Wealth Management grew its holdings in Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock worth $681,000 after acquiring an additional 38 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Public Storage by 0.9% in the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust’s stock valued at $1,287,000 after purchasing an additional 39 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of Public Storage by 3.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust’s stock worth $366,000 after purchasing an additional 40 shares during the last quarter. Finally, Global X Japan Co. Ltd. grew its stake in shares of Public Storage by 13.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 40 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 2.3%

PSA stock opened at $304.99 on Friday. The company has a market cap of $53.50 billion, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. The company has a fifty day moving average price of $293.44 and a 200 day moving average price of $305.93. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company earned $4.03 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Sell-side analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, June 12th. Public Storage’s payout ratio is currently 119.17%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank of Canada cut their price target on Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Bank of America increased their price target on shares of Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday. Mizuho initiated coverage on shares of Public Storage in a research report on Wednesday, April 9th. They set a “neutral” rating and a $287.00 price objective for the company. Finally, Scotiabank upped their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a report on Monday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $337.67.

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.