Stratos Wealth Partners LTD. Purchases 296 Shares of Public Storage (NYSE:PSA)

Stratos Wealth Partners LTD. boosted its position in Public Storage (NYSE:PSA) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,464 shares of the real estate investment trust’s stock after acquiring an additional 296 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Public Storage were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Public Storage in the first quarter valued at $26,000. ICA Group Wealth Management LLC bought a new position in Public Storage in the fourth quarter valued at $29,000. Private Ocean LLC increased its stake in Public Storage by 5,450.0% in 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 during the last quarter. Centerpoint Advisors LLC bought a new position in Public Storage in the fourth quarter valued at $35,000. Finally, Live Oak Investment Partners bought a new position in Public Storage in the fourth quarter valued at $34,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Public Storage stock opened at $275.16 on Friday. 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 firm has a 50-day moving average of $282.78 and a 200-day moving average of $276.34. The firm has a market cap of $48.34 billion, a P/E ratio of 24.88, a P/E/G ratio of 3.62 and a beta of 0.54. Public Storage has a 1-year low of $233.18 and a 1-year high of $316.48.

Public Storage (NYSE:PSA) last posted its earnings results 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 35.31% and a net margin of 45.34%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company posted $4.16 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

The business 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. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.36%. Public Storage’s dividend payout ratio (DPR) is presently 108.50%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Truist Financial upped their price target on shares of Public Storage from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, December 28th. The Goldman Sachs Group upped their price target on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Scotiabank upped their price target 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. Finally, BMO Capital Markets upped their price target on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. One equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.