Benjamin F. Edwards & Company Inc. Purchases 7,285 Shares of Public Storage (NYSE:PSA)

Benjamin F. Edwards & Company Inc. lifted its position in Public Storage (NYSE:PSA) by 7,142.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,387 shares of the real estate investment trust’s stock after buying an additional 7,285 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Public Storage were worth $2,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PSA. JPMorgan Chase & Co. lifted its position in Public Storage by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock valued at $835,032,000 after purchasing an additional 729,262 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Public Storage by 22.4% during the third 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. Northern Trust Corp lifted its position in Public Storage by 2.8% during the third quarter. Northern Trust Corp now owns 2,311,981 shares of the real estate investment trust’s stock valued at $609,253,000 after purchasing an additional 63,289 shares during the period. Morgan Stanley lifted its position in Public Storage by 0.8% during the third quarter. Morgan Stanley now owns 1,680,149 shares of the real estate investment trust’s stock valued at $442,753,000 after purchasing an additional 13,864 shares during the period. Finally, American Century Companies Inc. lifted its position in Public Storage by 6.5% during the third quarter. American Century Companies Inc. now owns 1,330,220 shares of the real estate investment trust’s stock valued at $350,540,000 after purchasing an additional 80,784 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of a number of research analyst reports. Scotiabank increased their price objective on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. BMO Capital Markets increased their price target on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. 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. Finally, Raymond James upgraded 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $305.00.

Public Storage Stock Performance

Shares of NYSE PSA opened at $265.76 on Friday. The firm has a fifty day moving average price of $276.44 and a 200-day moving average price of $275.92. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.62. The stock has a market cap of $46.69 billion, a PE 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 quarterly earnings data 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). The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company earned $4.16 earnings per share. Equities 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 announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.52%. Public Storage’s 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.