West Oak Capital LLC Sells 95 Shares of Public Storage (NYSE:PSA)

West Oak Capital LLC decreased its holdings in shares of Public Storage (NYSE:PSA) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 952 shares of the real estate investment trust’s stock after selling 95 shares during the quarter. West Oak Capital LLC’s holdings in Public Storage were worth $281,000 at the end of the most recent quarter.

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

Public Storage Stock Up 0.4 %

NYSE PSA traded up $1.04 during trading on Thursday, hitting $289.14. The stock had a trading volume of 204,161 shares, compared to its average volume of 746,112. Public Storage has a 12 month low of $233.18 and a 12 month high of $316.48. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 0.62. The company’s 50-day moving average price is $284.05 and its two-hundred day moving average price is $275.27. The company has a market capitalization of $50.80 billion, a PE ratio of 26.10, a P/E/G ratio of 3.61 and a beta of 0.54.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $4.16 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th will be paid 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 4.15%. Public Storage’s dividend payout ratio is 108.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PSA shares. The Goldman Sachs Group upped their target price 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. Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a research note on Thursday. BMO Capital Markets boosted their target price on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Scotiabank raised their price target on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. Finally, Barclays began coverage on Public Storage in a research report on Wednesday. They issued an “overweight” rating and a $330.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $302.50.

About Public Storage

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.