Donald L. Hagan LLC Buys 90 Shares of Public Storage (NYSE:PSA)

Donald L. Hagan LLC lifted its holdings in shares of Public Storage (NYSE:PSA) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,056 shares of the real estate investment trust’s stock after acquiring an additional 90 shares during the period. Donald L. Hagan LLC’s holdings in Public Storage were worth $932,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSA. State Street Corp boosted its stake in Public Storage by 0.3% in the second quarter. State Street Corp now owns 11,209,856 shares of the real estate investment trust’s stock valued at $3,271,933,000 after acquiring an additional 34,564 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Public Storage by 3.6% in the 1st quarter. Geode Capital Management LLC now owns 3,742,458 shares of the real estate investment trust’s stock worth $1,131,364,000 after buying an additional 129,555 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Public Storage by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock worth $835,032,000 after buying an additional 729,262 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Public Storage by 63.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,755,605 shares of the real estate investment trust’s stock valued at $832,580,000 after purchasing an additional 1,071,347 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Public Storage by 22.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,470,839 shares of the real estate investment trust’s stock valued at $633,949,000 after purchasing an additional 451,864 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Up 0.7 %

Shares of PSA stock traded up $1.96 on Friday, hitting $290.06. 841,389 shares of the stock traded hands, compared to its average volume of 776,433. The stock has a market capitalization of $50.96 billion, a PE ratio of 26.23, a PEG ratio of 3.78 and a beta of 0.54. Public Storage has a twelve month low of $233.18 and a twelve month high of $316.48. The firm’s 50-day moving average price is $283.91 and its two-hundred day moving average price is $275.46. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 0.62.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($1.94). The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.16 EPS. As a group, analysts anticipate that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s payout ratio is 108.50%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSA. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Public Storage in a research note on Tuesday, January 30th. They set a “sell” rating and a $250.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Scotiabank boosted their price objective on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. Finally, Wells Fargo & Company cut shares of Public Storage from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $270.00 to $280.00 in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.50.

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.