Public Storage (NYSE:PSA) Position Lifted by Threadgill Financial LLC

Threadgill Financial LLC increased its position in Public Storage (NYSE:PSA) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,326 shares of the real estate investment trust’s stock after buying an additional 119 shares during the quarter. Public Storage comprises about 4.3% of Threadgill Financial LLC’s investment portfolio, making the stock its 9th biggest position. Threadgill Financial LLC’s holdings in Public Storage were worth $6,505,000 at the end of the most recent reporting period.

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

Public Storage Stock Performance

NYSE PSA opened at $288.10 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. The stock has a market cap of $50.62 billion, a P/E ratio of 26.05, a PEG ratio of 3.61 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 company’s 50-day simple moving average is $284.05 and its 200 day simple moving average is $275.27.

Public Storage (NYSE:PSA) last announced its 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). Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $4.16 earnings per share. Public Storage’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, research analysts forecast that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.17%. Public Storage’s dividend payout ratio is currently 108.50%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSA. Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price on the stock in a report on Thursday. Scotiabank boosted their price target 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. BMO Capital Markets boosted their price target on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. The Goldman Sachs Group lifted their price objective on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Barclays started coverage on shares of Public Storage in a research report on Wednesday. They set an “overweight” rating and a $330.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $302.50.

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.