Childress Capital Advisors LLC bought a new position in Public Storage (NYSE:PSA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 180 shares of the real estate investment trust’s stock, valued at approximately $42,000.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Public Storage by 1.6% in the fourth quarter. BlackRock Inc. now owns 17,234,617 shares of the real estate investment trust’s stock worth $3,979,990,000 after purchasing an additional 269,142 shares during the last quarter. Norges Bank bought a new stake in Public Storage in the fourth quarter valued at $383,136,000. UBS Asset Management Americas Inc. boosted its holdings in Public Storage by 21.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,561,713 shares of the real estate investment trust’s stock valued at $360,646,000 after acquiring an additional 272,978 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Public Storage by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,276,674 shares of the real estate investment trust’s stock valued at $294,823,000 after acquiring an additional 3,463 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Public Storage by 154.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,135,456 shares of the real estate investment trust’s stock valued at $262,211,000 after acquiring an additional 689,548 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.
Several research firms recently weighed in on PSA. Truist lifted their price target on shares of Public Storage from $245.00 to $262.00 in a report on Friday, March 5th. BMO Capital Markets raised Public Storage from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $220.00 to $240.00 in a research report on Thursday, January 28th. Raymond James raised Public Storage from an “underperform” rating to a “market perform” rating in a research report on Thursday, February 4th. Finally, Morgan Stanley lifted their price target on Public Storage from $221.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $223.00.
Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, February 24th. The real estate investment trust reported $1.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.94 by ($0.27). Public Storage had a return on equity of 26.59% and a net margin of 43.37%. During the same period in the previous year, the business posted $1.87 earnings per share. As a group, research analysts predict that Public Storage will post 10.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Tuesday, March 16th were paid a dividend of $2.00 per share. The ex-dividend date was Monday, March 15th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.13%. Public Storage’s dividend payout ratio is currently 74.42%.
Public Storage Profile
Public Storage operates as a real estate investment trust. The firm engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, Investment in PS Business Parks and Investment in Shurgard. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.
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