Baldwin Brothers LLC MA Purchases New Shares in Public Storage (NYSE:PSA)

Posted by on Apr 9th, 2023

Baldwin Brothers LLC MA acquired a new position in Public Storage (NYSE:PSA – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 667 shares of the real estate investment trust’s stock, valued at approximately $187,000.

A number of other institutional investors have also recently bought and sold shares of the business. Destiny Wealth Partners LLC increased its holdings in shares of Public Storage by 187.5% during the fourth quarter. Destiny Wealth Partners LLC now owns 92 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the period. HHM Wealth Advisors LLC grew its position in Public Storage by 65.6% during the third quarter. HHM Wealth Advisors LLC now owns 101 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 40 shares in the last quarter. Private Ocean LLC acquired a new stake in Public Storage during the third quarter worth approximately $31,000. Armstrong Advisory Group Inc. bought a new position in Public Storage during the 4th quarter worth $33,000. Finally, Old North State Trust LLC acquired a new position in Public Storage in the 3rd quarter valued at $42,000. Institutional investors own 77.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com assumed coverage on Public Storage in a report on Thursday, March 16th. They set a “hold” rating on the stock. Raymond James cut shares of Public Storage from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Public Storage currently has a consensus rating of “Hold” and a consensus target price of $362.40.

Public Storage Stock Performance

NYSE:PSA opened at $310.79 on Friday. Public Storage has a twelve month low of $270.13 and a twelve month high of $421.76. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.18. The stock’s 50-day simple moving average is $298.07 and its 200 day simple moving average is $293.32. The firm has a market capitalization of $54.62 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 3.08 and a beta of 0.45.

Public Storage (NYSE:PSA – Get Rating) last posted its earnings results on Tuesday, February 21st. The real estate investment trust reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $3.99 by ($1.93). The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Public Storage had a return on equity of 72.77% and a net margin of 101.60%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $3.54 EPS. On average, analysts anticipate that Public Storage will post 16.79 EPS for the current fiscal year.

Public Storage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Shareholders of record on Wednesday, March 15th were given a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $12.00 dividend on an annualized basis and a yield of 3.86%. This is a positive change from Public Storage’s previous quarterly dividend of $2.00. Public Storage’s dividend payout ratio (DPR) is currently 51.09%.

Public Storage Profile

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Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.

See Also

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

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