TRUE Private Wealth Advisors Sells 196 Shares of Public Storage $PSA

TRUE Private Wealth Advisors cut its holdings in shares of Public Storage (NYSE:PSA) by 19.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 804 shares of the real estate investment trust’s stock after selling 196 shares during the period. TRUE Private Wealth Advisors’ holdings in Public Storage were worth $236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Highview Capital Management LLC DE grew its position in Public Storage by 3.3% in the second quarter. Highview Capital Management LLC DE now owns 4,371 shares of the real estate investment trust’s stock valued at $1,283,000 after acquiring an additional 141 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in shares of Public Storage by 121.2% in the second quarter. Wealthspire Advisors LLC now owns 3,198 shares of the real estate investment trust’s stock worth $938,000 after acquiring an additional 1,752 shares during the last quarter. MainStreet Investment Advisors LLC boosted its stake in shares of Public Storage by 0.7% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 20,174 shares of the real estate investment trust’s stock valued at $5,919,000 after purchasing an additional 136 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Public Storage by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 20,815,476 shares of the real estate investment trust’s stock valued at $6,107,677,000 after purchasing an additional 79,580 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in Public Storage by 13.6% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 1,316 shares of the real estate investment trust’s stock worth $386,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of research analyst reports. Barclays cut their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Evercore ISI dropped their price target on Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average price target of $325.38.

Public Storage Trading Down 2.0%

Shares of PSA stock opened at $265.97 on Thursday. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The stock has a market cap of $46.67 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 4.72 and a beta of 0.91. The stock has a 50-day moving average of $288.06 and a 200-day moving average of $291.22.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.Public Storage’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.5%. Public Storage’s dividend payout ratio is 124.61%.

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.