Texas Yale Capital Corp. Grows Stake in Public Storage (NYSE:PSA)

Texas Yale Capital Corp. raised its position in shares of Public Storage (NYSE:PSA - Free Report) by 13.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,847 shares of the real estate investment trust's stock after acquiring an additional 925 shares during the period. Texas Yale Capital Corp.'s holdings in Public Storage were worth $2,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC raised its holdings in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Synergy Asset Management LLC purchased a new position in Public Storage in the fourth quarter valued at about $38,000. Millstone Evans Group LLC purchased a new stake in Public Storage during the fourth quarter valued at approximately $38,000. Toth Financial Advisory Corp grew its holdings in Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 66 shares during the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Public Storage during the fourth quarter worth $67,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

PSA has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Barclays reiterated an "overweight" rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Mizuho began coverage on shares of Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price target for the company. Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and dropped their price objective for the company from $333.00 to $305.00 in a report on Wednesday, April 9th. Finally, Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a research note on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Public Storage presently has an average rating of "Moderate Buy" and a consensus target price of $332.08.

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Public Storage Price Performance

Shares of NYSE:PSA traded up $1.89 during trading on Tuesday, reaching $290.62. 134,898 shares of the company's stock traded hands, compared to its average volume of 733,548. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a 50-day simple moving average of $296.81 and a 200-day simple moving average of $313.14. The firm has a market cap of $50.98 billion, a PE ratio of 30.18, a P/E/G ratio of 4.91 and a beta of 0.76.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

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.