Global Wealth Management Investment Advisory Inc. Increases Position in Public Storage (NYSE:PSA)

Global Wealth Management Investment Advisory Inc. increased its position in Public Storage (NYSE:PSAGet Rating) by 15.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 804 shares of the real estate investment trust’s stock after acquiring an additional 105 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Public Storage were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PSA. AdvisorNet Financial Inc increased its holdings in shares of Public Storage by 2.7% in the fourth quarter. AdvisorNet Financial Inc now owns 1,113 shares of the real estate investment trust’s stock valued at $417,000 after purchasing an additional 29 shares during the period. Glassman Wealth Services increased its holdings in Public Storage by 16.4% in the 4th quarter. Glassman Wealth Services now owns 206 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 29 shares during the period. Kentucky Retirement Systems raised its position in Public Storage by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 9,093 shares of the real estate investment trust’s stock worth $3,406,000 after buying an additional 34 shares during the last quarter. HM Payson & Co. lifted its stake in Public Storage by 10.0% during the 3rd quarter. HM Payson & Co. now owns 396 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 36 shares during the period. Finally, JJJ Advisors Inc. boosted its holdings in shares of Public Storage by 5.4% in the 4th quarter. JJJ Advisors Inc. now owns 708 shares of the real estate investment trust’s stock valued at $265,000 after acquiring an additional 36 shares during the last quarter. 78.54% of the stock is owned by institutional investors.

PSA opened at $297.84 on Wednesday. The firm has a market capitalization of $52.26 billion, a PE ratio of 28.94, a PEG ratio of 2.81 and a beta of 0.29. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.39. Public Storage has a twelve month low of $290.41 and a twelve month high of $421.76. The firm’s 50-day moving average price is $352.83 and its 200 day moving average price is $358.31.

Public Storage (NYSE:PSAGet Rating) last issued its earnings results on Tuesday, May 3rd. The real estate investment trust reported $2.63 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.96). Public Storage had a return on equity of 38.01% and a net margin of 54.79%. The company had revenue of $749.27 million for the quarter, compared to analyst estimates of $985.58 million. During the same quarter in the prior year, the firm earned $2.82 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, analysts predict that Public Storage will post 15.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, June 14th. Public Storage’s dividend payout ratio (DPR) is currently 77.75%.

Several research analysts have recently weighed in on PSA shares. Morgan Stanley reduced their target price on Public Storage from $357.00 to $298.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 25th. The Goldman Sachs Group increased their price objective on shares of Public Storage from $398.00 to $440.00 and gave the company a “neutral” rating in a report on Thursday, April 14th. JPMorgan Chase & Co. lifted their target price on shares of Public Storage from $385.00 to $434.00 and gave the company an “overweight” rating in a research report on Monday, April 4th. BMO Capital Markets upgraded shares of Public Storage from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $410.00 to $370.00 in a research report on Thursday, May 19th. Finally, StockNews.com cut Public Storage from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $372.91.

About Public Storage (Get Rating)

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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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