Public Storage (NYSE:PSA) Shares Sold by Presima Securities ULC

Presima Securities ULC cut its stake in shares of Public Storage (NYSE:PSA) by 30.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 71,591 shares of the real estate investment trust’s stock after selling 31,261 shares during the quarter. Public Storage comprises 5.7% of Presima Securities ULC’s holdings, making the stock its 5th biggest position. Presima Securities ULC’s holdings in Public Storage were worth $26,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Public Storage during the second quarter valued at approximately $32,000. Opal Wealth Advisors LLC acquired a new stake in Public Storage during the 2nd quarter valued at $36,000. Riverview Trust Co purchased a new stake in shares of Public Storage in the first quarter valued at $37,000. Crewe Advisors LLC purchased a new stake in shares of Public Storage in the first quarter valued at $39,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Public Storage in the second quarter worth $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PSA shares. Barclays upped their price target on Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Morgan Stanley increased their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a research report on Thursday, August 1st. Evercore ISI cut their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday. Finally, Citigroup boosted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $337.00.

Public Storage Trading Up 0.8 %

Public Storage stock opened at $347.80 on Thursday. Public Storage has a one year low of $233.18 and a one year high of $369.99. The company’s fifty day moving average price is $344.50 and its two-hundred day moving average price is $304.36. The company has a market capitalization of $61.12 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 4.82 and a beta of 0.68. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The company had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $4.28 earnings per share. On average, analysts forecast that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Friday, September 13th. Public Storage’s dividend payout ratio is currently 108.99%.

Public Storage Company 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.