Blue Fin Capital Inc. Purchases 116 Shares of Public Storage (NYSE:PSA)

Blue Fin Capital Inc. raised its position in Public Storage (NYSE:PSA) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,666 shares of the real estate investment trust’s stock after purchasing an additional 116 shares during the quarter. Blue Fin Capital Inc.’s holdings in Public Storage were worth $508,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Private Ocean LLC lifted its stake in Public Storage by 5,450.0% in the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 109 shares in the last quarter. Centerpoint Advisors LLC bought a new stake in shares of Public Storage in the fourth quarter worth $35,000. Turtle Creek Wealth Advisors LLC acquired a new position in Public Storage during the fourth quarter worth $35,000. Aspire Private Capital LLC grew its position in Public Storage by 44.0% in the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 44 shares in the last quarter. Finally, Rise Advisors LLC grew its position in Public Storage by 165.5% in the fourth quarter. Rise Advisors LLC now owns 146 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 91 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BMO Capital Markets increased 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. Raymond James upgraded 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 note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Public Storage in a research note on Tuesday, January 30th. They set a “sell” rating and a $250.00 price objective on the stock. Barclays started coverage on Public Storage in a report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price objective for the company. Finally, Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $280.00 to $310.00 in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $305.00.

Public Storage Stock Performance

PSA stock traded up $1.83 during mid-day trading on Friday, hitting $265.76. 662,239 shares of the company were exchanged, compared to its average volume of 697,055. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25. The stock has a market capitalization 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. The business has a 50 day simple moving average of $276.44 and a 200-day simple moving average of $275.92. The company has a current ratio of 0.54, a quick ratio of 0.62 and a debt-to-equity ratio of 1.59.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($1.94). The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates 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 in the previous year, the business posted $4.16 earnings per share. On average, equities analysts forecast that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a $3.00 dividend. 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 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.