West Oak Capital LLC Buys 210 Shares of Public Storage (NYSE:PSA)

West Oak Capital LLC boosted its holdings in shares of Public Storage (NYSE:PSA) by 22.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,162 shares of the real estate investment trust’s stock after purchasing an additional 210 shares during the period. West Oak Capital LLC’s holdings in Public Storage were worth $423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new position in Public Storage during the first quarter worth about $7,319,000. Centersquare Investment Management LLC raised its stake in shares of Public Storage by 17.2% in the first quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after acquiring an additional 173,975 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Public Storage in the second quarter valued at approximately $14,301,000. PGGM Investments raised its stake in shares of Public Storage by 8.0% in the second quarter. PGGM Investments now owns 167,431 shares of the real estate investment trust’s stock valued at $48,162,000 after acquiring an additional 12,396 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Public Storage in the first quarter valued at approximately $17,465,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PSA. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. Morgan Stanley raised their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Barclays raised their price target on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Citigroup raised their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price of $337.00.

Public Storage Trading Up 0.1 %

Shares of NYSE PSA opened at $345.62 on Friday. The company’s fifty day moving average is $345.72 and its 200-day moving average is $305.06. The stock has a market cap of $60.49 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 4.84 and a beta of 0.68. Public Storage has a twelve month low of $233.18 and a twelve month high of $369.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The firm had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.28 earnings per share. Equities research analysts predict that Public Storage will post 16.73 EPS for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 annualized dividend and a yield of 3.47%. Public Storage’s dividend payout ratio is currently 112.46%.

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.