Public Storage (NYSE:PSA) Shares Sold by Capital Analysts LLC

Capital Analysts LLC lessened its holdings in Public Storage (NYSE:PSA) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 738 shares of the real estate investment trust’s stock after selling 59 shares during the quarter. Capital Analysts LLC’s holdings in Public Storage were worth $225,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its stake in shares of Public Storage by 3.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 35 shares during the last quarter. Kinneret Advisory LLC raised its stake in shares of Public Storage by 2.3% in the first quarter. Kinneret Advisory LLC now owns 1,678 shares of the real estate investment trust’s stock worth $655,000 after purchasing an additional 37 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Public Storage by 4.1% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock worth $289,000 after purchasing an additional 43 shares during the last quarter. Wealth Alliance raised its stake in shares of Public Storage by 5.3% in the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 43 shares during the last quarter. Finally, RB Capital Management LLC raised its position in Public Storage by 1.1% during the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PSA. 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 research report on Tuesday, March 19th. Scotiabank lifted their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. The Goldman Sachs Group lifted their price target on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Barclays initiated coverage on Public Storage in a report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Public Storage in a research note on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target on the stock. One 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 company’s stock. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average target price of $305.00.

Public Storage Trading Down 0.2 %

NYSE:PSA opened at $261.67 on Thursday. The stock has a 50-day simple moving average of $281.73 and a 200-day simple moving average of $276.46. The stock has a market cap of $45.97 billion, a P/E ratio of 23.66, a P/E/G ratio of 3.44 and a beta of 0.54. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 0.62.

Public Storage (NYSE:PSA) last released its quarterly earnings data 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). The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.16 earnings per share. As a group, analysts anticipate that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a $3.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.59%. Public Storage’s dividend payout ratio (DPR) is presently 108.50%.

Public Storage 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.