Yousif Capital Management LLC Sells 759 Shares of Public Storage (NYSE:PSA)

Yousif Capital Management LLC decreased its holdings in shares of Public Storage (NYSE:PSA) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,579 shares of the real estate investment trust’s stock after selling 759 shares during the quarter. Yousif Capital Management LLC’s holdings in Public Storage were worth $8,107,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC bought a new stake in shares of Public Storage in the fourth quarter valued at approximately $1,057,000. GAMMA Investing LLC bought a new stake in Public Storage in the 4th quarter valued at $165,000. Parkside Financial Bank & Trust boosted its holdings in Public Storage by 20.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 380 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 65 shares during the period. OLD National Bancorp IN boosted its holdings in Public Storage by 6.4% in the 4th quarter. OLD National Bancorp IN now owns 26,607 shares of the real estate investment trust’s stock valued at $8,115,000 after purchasing an additional 1,607 shares during the period. Finally, Cetera Trust Company N.A bought a new stake in Public Storage in the 4th quarter valued at $119,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 0.0 %

Shares of PSA stock opened at $262.17 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $46.06 billion, a P/E ratio of 23.70, a P/E/G ratio of 3.44 and a beta of 0.54. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25. The firm has a 50-day moving average price of $279.71 and a 200 day moving average price of $276.52.

Public Storage (NYSE:PSA) last posted its 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 during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm posted $4.16 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Research analysts forecast that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 annualized dividend and a yield of 4.58%. Public Storage’s payout ratio is 108.50%.

Analysts Set New Price Targets

Several research firms recently weighed in on PSA. Barclays began coverage on shares of Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 target price for the company. The Goldman Sachs Group raised their price objective on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Scotiabank raised their target price on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. Truist Financial raised their target price on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, December 28th. Finally, BMO Capital Markets raised their price objective on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.