Metis Global Partners LLC Buys 711 Shares of Public Storage (NYSE:PSA)

Metis Global Partners LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 4.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,211 shares of the real estate investment trust’s stock after acquiring an additional 711 shares during the quarter. Metis Global Partners LLC’s holdings in Public Storage were worth $5,554,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Private Ocean LLC boosted its position in Public Storage by 5,450.0% during 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 acquired a new position in shares of Public Storage in the 4th quarter valued at about $35,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Public Storage in the 4th quarter valued at about $35,000. Aspire Private Capital LLC boosted its position in shares of Public Storage by 44.0% during the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 44 shares in the last quarter. Finally, Rise Advisors LLC grew its stake in Public Storage by 165.5% during the fourth quarter. Rise Advisors LLC now owns 146 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 91 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PSA has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a research note on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target on the stock. BMO Capital Markets increased their target price on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Scotiabank raised their price target on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $280.00 to $310.00 in a report on Friday, April 5th. Finally, Barclays started coverage on Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $305.00.

Public Storage Stock Up 0.7 %

Shares of NYSE:PSA traded up $1.83 during midday trading on Friday, hitting $265.76. 662,239 shares of the company’s stock were exchanged, compared to its average volume of 697,055. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.62. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The company has a market cap of $46.69 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57. The stock has a 50 day moving average price of $276.44 and a 200-day moving average price of $276.00.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a net margin of 45.62% and a return on equity of 36.17%. Public Storage’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.16 EPS. On average, sell-side analysts anticipate that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s 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.