Xponance Inc. Has $12.54 Million Stock Position in Public Storage (NYSE:PSA)

Xponance Inc. lifted its holdings in shares of Public Storage (NYSE:PSA) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,106 shares of the real estate investment trust’s stock after purchasing an additional 62 shares during the quarter. Xponance Inc.’s holdings in Public Storage were worth $12,537,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. AdvisorNet Financial Inc increased its stake 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 worth $347,000 after purchasing an additional 35 shares during the last quarter. Kinneret Advisory LLC grew its stake in Public Storage by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 1,678 shares of the real estate investment trust’s stock valued at $655,000 after buying an additional 37 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Public Storage by 4.1% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 43 shares during the last quarter. Wealth Alliance grew its stake in Public Storage by 5.3% in the 3rd quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 43 shares during the last quarter. Finally, RB Capital Management LLC grew its stake in Public Storage by 1.1% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSA. Scotiabank raised their target price on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $280.00 to $310.00 in a report on Friday, April 5th. BMO Capital Markets increased their price target on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. The Goldman Sachs Group increased their price target 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. Finally, 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 report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $305.00.

Public Storage Trading Down 0.0 %

Public Storage stock traded down $0.11 during midday trading on Friday, hitting $260.17. 64,268 shares of the stock were exchanged, compared to its average volume of 717,971. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. Public Storage has a 52 week low of $233.18 and a 52 week high of $312.25. The company has a fifty day simple moving average of $281.24 and a two-hundred day simple moving average of $276.35. The stock has a market capitalization of $45.71 billion, a PE ratio of 23.53, a P/E/G ratio of 3.43 and a beta of 0.54.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company posted $4.16 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Tuesday, March 12th. Public Storage’s payout ratio is presently 108.50%.

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.