Vanderbilt University Acquires 302 Shares of Public Storage (NYSE:PSA)

Vanderbilt University grew its position in Public Storage (NYSE:PSAFree Report) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,818 shares of the real estate investment trust’s stock after purchasing an additional 302 shares during the period. Public Storage makes up approximately 0.3% of Vanderbilt University’s investment portfolio, making the stock its 25th largest holding. Vanderbilt University’s holdings in Public Storage were worth $1,164,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of 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 fourth quarter valued at about $29,000. Private Ocean LLC lifted its holdings in shares of Public Storage by 5,450.0% in the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 109 shares in the last quarter. Live Oak Investment Partners bought a new stake in shares of Public Storage in the fourth quarter valued at about $34,000. Finally, Centerpoint Advisors LLC bought a new stake in Public Storage during the fourth quarter worth $35,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Down 1.3 %

Shares of PSA stock traded down $3.66 on Wednesday, hitting $279.72. The stock had a trading volume of 192,618 shares, compared to its average volume of 740,880. Public Storage has a one year low of $233.18 and a one year high of $316.48. The company has a market cap of $49.14 billion, a PE ratio of 25.29, a P/E/G ratio of 3.76 and a beta of 0.54. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. The business has a 50 day moving average price of $283.56 and a 200 day moving average price of $275.74.

Public Storage (NYSE:PSAGet Free Report) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company posted $4.16 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts anticipate that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Tuesday, March 12th. Public Storage’s dividend payout ratio is presently 108.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PSA shares. Barclays started coverage on shares of Public Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price target for the company. 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 report on Tuesday, March 19th. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price for the company in a research report on Thursday, March 28th. Wells Fargo & Company downgraded Public Storage from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $270.00 to $280.00 in a report on Tuesday, December 12th. Finally, Scotiabank raised their price objective on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. 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 given a strong buy rating to the company. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $302.50.

Read Our Latest Report on PSA

Public Storage Profile

(Free Report)

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.

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

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