Threadgill Financial LLC Purchases 119 Shares of Public Storage (NYSE:PSA)

Threadgill Financial LLC increased its holdings in shares of Public Storage (NYSE:PSA) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,326 shares of the real estate investment trust’s stock after purchasing an additional 119 shares during the quarter. Public Storage accounts for 4.3% of Threadgill Financial LLC’s holdings, making the stock its 9th biggest position. Threadgill Financial LLC’s holdings in Public Storage were worth $6,505,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Sunbelt Securities Inc. acquired a new position in shares of Public Storage in the first quarter valued at approximately $26,000. ICA Group Wealth Management LLC bought a new position in Public Storage in the 4th quarter worth about $29,000. Live Oak Investment Partners bought a new stake in shares of Public Storage during the 4th quarter valued at about $34,000. Centerpoint Advisors LLC purchased a new position in shares of Public Storage during the 4th quarter valued at about $35,000. Finally, Avior Wealth Management LLC increased its stake in Public Storage by 49.5% in the 3rd quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 48 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Up 4.7 %

Shares of Public Storage stock opened at $288.10 on Thursday. The stock has a market cap of $50.62 billion, a P/E ratio of 26.05, a P/E/G ratio of 3.61 and a beta of 0.54. The stock’s 50 day simple moving average is $284.05 and its 200-day simple moving average is $275.27. Public Storage has a 1-year low of $233.18 and a 1-year high of $316.48. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62.

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

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.17%. Public Storage’s payout ratio is 108.50%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PSA shares. Truist Financial boosted their price target on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th. Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective for the company in a research note on Thursday. Scotiabank increased their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. BMO Capital Markets upped their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Finally, Barclays started coverage on Public Storage in a research report on Wednesday. They set an “overweight” rating and a $330.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.