Foundations Investment Advisors LLC Boosts Holdings in Public Storage (NYSE:PSA)

Foundations Investment Advisors LLC boosted its position in shares of Public Storage (NYSE:PSAFree Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,632 shares of the real estate investment trust’s stock after purchasing an additional 66 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Public Storage were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PSA. Private Ocean LLC increased its position in shares of Public Storage by 5,450.0% during the fourth 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. EdgeRock Capital LLC purchased a new position in shares of Public Storage in the fourth quarter worth $32,000. Centerpoint Advisors LLC bought a new position in shares of Public Storage during the fourth quarter valued at $35,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Public Storage during the fourth quarter valued at $35,000. Finally, Aspire Private Capital LLC raised its position in Public Storage by 44.0% in 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. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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. Barclays started coverage on Public Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Public Storage in a research report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 target price on the stock. Raymond James raised shares of 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, 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 report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $305.00.

Check Out Our Latest Stock Analysis on PSA

Insider Activity at Public Storage

In related news, Director Kristy Pipes purchased 2,149 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the purchase, the director now directly owns 2,149 shares in the company, valued at $599,485.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 11.00% of the stock is currently owned by corporate insiders.

Public Storage Stock Performance

PSA opened at $288.70 on Friday. The company has a 50 day simple moving average of $275.41 and a two-hundred day simple moving average of $277.92. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market cap of $50.73 billion, a P/E ratio of 26.22, a PEG ratio of 3.77 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:PSAGet Free Report) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $4.16 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Equities analysts forecast 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 will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Wednesday, June 12th. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Public Storage Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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