Syon Capital LLC Buys 106 Shares of Public Storage (NYSE:PSA)

Syon Capital LLC increased its stake in Public Storage (NYSE:PSA) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,005 shares of the real estate investment trust’s stock after purchasing an additional 106 shares during the quarter. Syon Capital LLC’s holdings in Public Storage were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. AdvisorNet Financial Inc raised its holdings in Public Storage by 3.2% in 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 period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings 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 worth $289,000 after purchasing an additional 43 shares during the period. Wealth Alliance raised its holdings in Public Storage by 5.3% during the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 43 shares during the period. RB Capital Management LLC raised its holdings in Public Storage by 1.1% during the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after acquiring an additional 43 shares during the period. Finally, Aspire Private Capital LLC raised its holdings in Public Storage by 44.0% during the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 44 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Down 0.4 %

PSA opened at $257.73 on Friday. The firm has a market cap of $45.28 billion, a P/E ratio of 23.30, a P/E/G ratio of 3.38 and a beta of 0.54. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58. The stock has a 50-day moving average of $278.68 and a 200 day moving average of $276.34.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). The company 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 35.31% and a net margin of 45.34%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.16 EPS. As a group, research analysts forecast that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s payout ratio is currently 108.50%.

Analyst Ratings Changes

A number of equities research analysts have commented on PSA shares. Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a report on Thursday, March 28th. Scotiabank raised their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. The Goldman Sachs Group raised their price target on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $280.00 to $310.00 in a report on Friday, April 5th. Finally, Barclays assumed coverage on Public Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $305.00.

Public Storage Company 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.