452 Shares in Public Storage (NYSE:PSA) Acquired by NBC Securities Inc.

NBC Securities Inc. bought a new position in shares of Public Storage (NYSE:PSA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 452 shares of the real estate investment trust’s stock, valued at approximately $135,000.

Several other large investors also recently bought and sold shares of the company. Werba Rubin Papier Wealth Management grew its position in Public Storage by 1.7% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock valued at $681,000 after acquiring an additional 38 shares in the last quarter. Lido Advisors LLC grew its position in Public Storage by 0.9% in the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust’s stock valued at $1,287,000 after acquiring an additional 39 shares in the last quarter. Integrated Advisors Network LLC grew its position in Public Storage by 1.4% in the fourth quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust’s stock valued at $918,000 after acquiring an additional 41 shares in the last quarter. Kingsview Wealth Management LLC grew its position in Public Storage by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,090 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 44 shares in the last quarter. Finally, Atlas Brown Inc. grew its position in Public Storage by 2.1% in the first quarter. Atlas Brown Inc. now owns 2,176 shares of the real estate investment trust’s stock valued at $651,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $302.65 on Tuesday. The business’s fifty day moving average price is $295.60 and its 200 day moving average price is $301.90. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99. The stock has a market capitalization of $53.09 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 4.91 and a beta of 0.89. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the business posted $4.03 earnings per share. Equities research analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Thursday, June 12th. Public Storage’s payout ratio is 119.17%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Barclays reduced their target price on Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Wells Fargo & Company reduced their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Bank of America increased their target price on Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Mizuho increased their target price on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $339.25.

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.