Savant Capital LLC Has $351,000 Stock Holdings in Public Storage (NYSE:PSA)

Savant Capital LLC increased its holdings in shares of Public Storage (NYSE:PSA) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,151 shares of the real estate investment trust’s stock after buying an additional 179 shares during the quarter. Savant Capital LLC’s holdings in Public Storage were worth $351,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PSA. Integrated Wealth Concepts LLC boosted its position in shares of Public Storage by 16.1% during the third quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock worth $2,567,000 after buying an additional 1,349 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Public Storage by 8.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock valued at $32,638,000 after acquiring an additional 9,223 shares in the last quarter. Raymond James & Associates increased its position in shares of Public Storage by 4.3% in the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after acquiring an additional 4,695 shares during the last quarter. Ellsworth Advisors LLC raised its holdings in Public Storage by 615.7% during the fourth quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock worth $6,040,000 after acquiring an additional 17,036 shares in the last quarter. Finally, 1834 Investment Advisors Co. boosted its position in Public Storage by 115.3% during the fourth quarter. 1834 Investment Advisors Co. now owns 16,952 shares of the real estate investment trust’s stock valued at $5,170,000 after purchasing an additional 9,078 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BMO Capital Markets increased their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $280.00 to $310.00 in a report on Friday, April 5th. Scotiabank lifted their price target on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. The Goldman Sachs Group upped their price objective on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price for the company in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $305.00.

Public Storage Stock Performance

PSA opened at $265.76 on Monday. The firm has a market cap of $46.69 billion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57. The business’s fifty day moving average is $276.44 and its 200-day moving average is $276.00. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.25. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54.

Public Storage (NYSE:PSA) last released its 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). Public Storage had a net margin of 45.62% and a return on equity of 36.17%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business earned $4.16 earnings per share. Public Storage’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts expect that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.52%. Public Storage’s dividend payout ratio is currently 108.99%.

Public Storage 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.