TCG Advisory Services LLC Acquires Shares of 1,368 Public Storage (NYSE:PSA)

TCG Advisory Services LLC bought a new stake in Public Storage (NYSE:PSA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,368 shares of the real estate investment trust’s stock, valued at approximately $417,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Private Ocean LLC increased its stake in Public Storage by 5,450.0% during the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 109 shares in the last quarter. Centerpoint Advisors LLC acquired a new position in Public Storage in the 4th quarter valued at $35,000. Turtle Creek Wealth Advisors LLC purchased a new position in Public Storage in the 4th quarter valued at $35,000. Aspire Private Capital LLC boosted its stake in 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 worth $38,000 after purchasing an additional 44 shares during the last quarter. Finally, Rise Advisors LLC grew its holdings in shares of 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 buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSA. BMO Capital Markets boosted their price target on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Scotiabank upped their target price on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. The Goldman Sachs Group boosted their target price on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research report on Thursday, March 28th. Finally, Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $280.00 to $310.00 in a report on Friday, April 5th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and a consensus price target of $305.00.

Public Storage Stock Up 0.7 %

Public Storage stock traded up $1.83 during trading on Friday, reaching $265.76. The stock had a trading volume of 662,239 shares, compared to its average volume of 697,055. The company has a quick ratio of 0.62, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.25. The stock has a market cap of $46.69 billion, a PE ratio of 24.14, a P/E/G ratio of 3.49 and a beta of 0.57. The business 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 posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($1.94). The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a return on equity of 36.17% and a net margin of 45.62%. Public Storage’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.16 EPS. On average, analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

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