Public Storage $PSA Shares Sold by Pavion Blue Capital LLC

Pavion Blue Capital LLC trimmed its stake in Public Storage (NYSE:PSA) by 42.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,051 shares of the real estate investment trust’s stock after selling 1,500 shares during the period. Pavion Blue Capital LLC’s holdings in Public Storage were worth $580,000 as of its most recent SEC filing.

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

Public Storage Stock Down 0.2%

Shares of Public Storage stock opened at $335.38 on Thursday. The company has a 50-day simple moving average of $302.31 and a two-hundred day simple moving average of $304.77. The stock has a market capitalization of $62.66 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 4.97 and a beta of 0.89. Public Storage has a 52-week low of $256.54 and a 52-week 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.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). Public Storage had a net margin of 37.76% and a return on equity of 29.93%. The firm 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 company earned $4.31 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that Public Storage will post 16.97 EPS for the current fiscal year.

Public Storage Dividend Announcement

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

Wall Street Analysts Forecast Growth

PSA has been the topic of several recent research reports. Truist Financial began coverage on Public Storage in a research note on Friday, October 2nd. They issued a “buy” rating and a $317.00 price target on the stock. Mizuho lifted their price objective on Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. UBS Group boosted their target price on Public Storage from $294.00 to $334.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. Wells Fargo & Company set a $311.00 target price on Public Storage in a research note on Tuesday, September 1st. Finally, JPMorgan Chase & Co. reduced their price target on Public Storage from $338.00 to $330.00 and set a “neutral” rating for the company in a report on Monday, September 21st. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $325.79.

About Public Storage

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.