5,324 Public Storage $PSA Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lowered its stake in Public Storage (NYSE:PSA) by 52.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,741 shares of the real estate investment trust’s stock after selling 5,324 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Public Storage were worth $1,341,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC lifted its holdings in shares of Public Storage by 10.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,662 shares of the real estate investment trust’s stock worth $515,000 after acquiring an additional 152 shares during the last quarter. Ascent Group LLC grew its stake in shares of Public Storage by 14.8% in the third quarter. Ascent Group LLC now owns 1,081 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 139 shares in the last quarter. Caldwell Trust Co grew its stake in shares of Public Storage by 121.3% in the third quarter. Caldwell Trust Co now owns 343 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 188 shares in the last quarter. Rakuten Investment Management Inc. grew its position in Public Storage by 16.7% in the 3rd quarter. Rakuten Investment Management Inc. now owns 30,151 shares of the real estate investment trust’s stock valued at $8,611,000 after acquiring an additional 4,310 shares in the last quarter. Finally, Third View Private Wealth LLC grew its holdings in shares of Public Storage by 3.4% in the third quarter. Third View Private Wealth LLC now owns 14,405 shares of the real estate investment trust’s stock valued at $4,074,000 after purchasing an additional 470 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSA. Truist Financial started coverage on Public Storage in a report on Friday, October 2nd. They set a “buy” rating and a $317.00 price target on the stock. Scotiabank dropped their price objective on Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 2nd. Barclays raised their target price on Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 10th. Raymond James Financial started coverage on Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating for the company. Finally, Mizuho boosted their target price on Public Storage from $316.00 to $319.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Public Storage currently has an average rating of “Hold” and an average price target of $325.79.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.10% of the company’s stock.

Public Storage Stock Down 1.0%

NYSE:PSA traded down $3.24 during midday trading on Friday, hitting $337.26. 1,203,610 shares of the company were exchanged, compared to its average volume of 903,222. The company has a fifty day simple moving average of $300.59 and a 200 day simple moving average of $304.02. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $345.89. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $63.01 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 4.96 and a beta of 0.89.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share 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 company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned $4.31 earnings per share. Public Storage’s revenue was up .5% on a year-over-year basis. As a group, equities analysts anticipate that Public Storage will post 16.97 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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

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