Metis Global Partners LLC Has $5.55 Million Stock Holdings in Public Storage (NYSE:PSA)

Metis Global Partners LLC lifted its position in Public Storage (NYSE:PSA) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,211 shares of the real estate investment trust’s stock after purchasing an additional 711 shares during the quarter. Metis Global Partners LLC’s holdings in Public Storage were worth $5,554,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Private Ocean LLC increased its holdings in shares of Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 109 shares in the last quarter. Centerpoint Advisors LLC acquired a new stake in Public Storage during the 4th quarter valued at $35,000. Turtle Creek Wealth Advisors LLC bought a new position in Public Storage in the 4th quarter valued at $35,000. Aspire Private Capital LLC raised its position in Public Storage by 44.0% in the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 44 shares during the last quarter. Finally, Rise Advisors LLC boosted its stake in Public Storage by 165.5% in the fourth quarter. Rise Advisors LLC now owns 146 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 0.7 %

NYSE PSA traded up $1.83 on Friday, reaching $265.76. The company had a trading volume of 662,239 shares, compared to its average volume of 697,055. Public Storage has a 52 week low of $233.18 and a 52 week high of $312.25. The stock’s 50 day moving average is $276.44 and its 200-day moving average is $276.00. The company has a quick ratio of 0.62, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. The stock has a market cap of $46.69 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.49 and a beta of 0.57.

Public Storage (NYSE:PSA) last posted its earnings results 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 return on equity of 36.17% and a net margin of 45.62%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $4.16 earnings per share. Public Storage’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.52%. Public Storage’s dividend payout ratio is 108.99%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PSA shares. BMO Capital Markets lifted their price target on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price on the stock in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Public Storage in a report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target for the company. Barclays assumed coverage on Public Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price objective on the stock. Finally, Scotiabank lifted their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $305.00.

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.