Yoder Wealth Management Inc. Buys 36 Shares of Public Storage (NYSE:PSA)

Yoder Wealth Management Inc. raised its stake in shares of Public Storage (NYSE:PSA) by 5.0% in the 3rd quarter, Holdings Channel reports. The firm owned 763 shares of the real estate investment trust’s stock after acquiring an additional 36 shares during the period. Yoder Wealth Management Inc.’s holdings in Public Storage were worth $278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Public Storage by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after acquiring an additional 217,487 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after acquiring an additional 219,391 shares during the last quarter. APG Asset Management US Inc. lifted its holdings in shares of Public Storage by 4.8% in the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock valued at $623,485,000 after acquiring an additional 100,000 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Public Storage by 8.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock valued at $343,968,000 after acquiring an additional 95,080 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its holdings in shares of Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after acquiring an additional 173,975 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PSA shares. Barclays increased their price target on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective on the stock. in a research report on Monday, August 5th. Wells Fargo & Company increased their price objective on shares of Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group increased their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $340.93.

Public Storage Stock Performance

Shares of NYSE:PSA traded up $1.63 on Thursday, hitting $341.40. 55,070 shares of the company were exchanged, compared to its average volume of 705,218. Public Storage has a 1-year low of $233.18 and a 1-year high of $369.99. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The stock’s 50 day moving average price is $346.82 and its 200 day moving average price is $306.35. The firm has a market capitalization of $59.75 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 4.72 and a beta of 0.68.

Public Storage (NYSE:PSA) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The company had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.28 EPS. Sell-side analysts predict that Public Storage will post 16.73 EPS for the current year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.51%. Public Storage’s dividend payout ratio is currently 112.46%.

Public Storage Company 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.