6,054 Public Storage $PSA Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama raised its stake in shares of Public Storage (NYSE:PSA) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 127,332 shares of the real estate investment trust’s stock after acquiring an additional 6,054 shares during the period. Retirement Systems of Alabama owned approximately 0.07% of Public Storage worth $36,015,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nilsine Partners LLC increased its holdings in shares of Public Storage by 2.9% in the second quarter. Nilsine Partners LLC now owns 1,211 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 34 shares during the period. Aegis Wealth Management Inc. lifted its holdings in shares of Public Storage by 2.5% during the third quarter. Aegis Wealth Management Inc. now owns 1,375 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 34 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of Public Storage by 2.6% during the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 36 shares during the period. Chesapeake Capital Corp IL grew its position in Public Storage by 1.3% in the 2nd quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock valued at $953,000 after buying an additional 38 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its position in Public Storage by 0.6% in the 3rd quarter. Capital Investment Advisors LLC now owns 7,104 shares of the real estate investment trust’s stock valued at $2,009,000 after buying an additional 42 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 11.10% of the stock is owned by company insiders.

Public Storage Trading Down 0.6%

NYSE:PSA opened at $336.05 on Wednesday. Public Storage has a 1 year low of $256.54 and a 1 year high of $345.89. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average price of $301.65 and a two-hundred day moving average price of $304.51. The stock has a market capitalization of $62.79 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 5.00 and a beta of 0.89.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing the consensus estimate of $2.49 by ($0.80). Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $4.31 earnings per share. Public Storage’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Public Storage will post 16.97 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Tuesday, December 15th will be paid a $3.00 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.6%. Public Storage’s dividend payout ratio (DPR) is 125.65%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Public Storage from $338.00 to $330.00 and set a “neutral” rating on the stock in a research note on Monday, September 21st. Scotiabank lowered their target price on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 2nd. Truist Financial assumed coverage on shares of Public Storage in a report on Friday, October 2nd. They issued a “buy” rating and a $317.00 target price on the stock. Barclays boosted their price target on shares of Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 10th. Finally, Royal Bank Of Canada increased their price target on shares of Public Storage from $318.00 to $323.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 28th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Public Storage currently has a consensus rating of “Hold” and an average target price of $325.79.

Public Storage Company Profile

Public Storage is a real estate investment trust that owns and operates self-storage facilities. Its properties offer individuals and businesses rental storage units in a range of sizes for household goods, business inventory, and other belongings. The company also provides related services, including storage protection plans. Founded in 1972, Public Storage has grown into a major self-storage provider in the United States, with facilities serving customers across the country. Its business also has a connection to Europe through its investment in Shurgard Self Storage, which operates self-storage properties in several European markets.