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

Capital Analysts LLC lessened its stake in shares of Public Storage (NYSE:PSA) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of Public Storage during the first quarter worth about $26,000. ICA Group Wealth Management LLC acquired a new position in shares of Public Storage during the fourth quarter worth about $29,000. Private Ocean LLC lifted its stake in shares of Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 109 shares in the last quarter. Live Oak Investment Partners acquired a new position in shares of Public Storage during the fourth quarter worth about $34,000. Finally, Centerpoint Advisors LLC acquired a new position in shares of Public Storage during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of NYSE PSA opened at $261.67 on Thursday. The stock has a fifty day moving average price of $281.73 and a two-hundred day moving average price of $276.46. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $45.97 billion, a P/E ratio of 23.66, a PEG 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.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business posted $4.16 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts forecast that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on PSA. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research note on Thursday, March 28th. Truist Financial upped their price objective on Public Storage from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. Scotiabank upped their price objective on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. BMO Capital Markets upped their target price on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a report on Tuesday, January 30th. They set a “sell” rating and a $250.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.00.

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.