Public Storage $PSA Stock: Pavion Blue Capital LLC Trims Stake

Pavion Blue Capital LLC trimmed its holdings in Public Storage (NYSE:PSA) by 42.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor 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 filing with the SEC.

A number of other hedge funds have also bought and sold shares of PSA. Jacobi Capital Management LLC grew its stake in shares of Public Storage by 2.4% in the third quarter. Jacobi Capital Management LLC now owns 2,310 shares of the real estate investment trust’s stock worth $653,000 after acquiring an additional 54 shares during the period. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Public Storage by 5.1% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 22,301 shares of the real estate investment trust’s stock valued at $6,308,000 after purchasing an additional 1,088 shares during the last quarter. Lido Advisors LLC raised its holdings in shares of Public Storage by 3.0% during the third quarter. Lido Advisors LLC now owns 27,538 shares of the real estate investment trust’s stock valued at $7,789,000 after purchasing an additional 798 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Public Storage by 21.5% during the third quarter. Keybank National Association OH now owns 10,942 shares of the real estate investment trust’s stock valued at $3,095,000 after purchasing an additional 1,936 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its position in Public Storage by 6.0% during the third quarter. New York Life Investment Management LLC now owns 24,999 shares of the real estate investment trust’s stock valued at $7,071,000 after purchasing an additional 1,412 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Public Storage from $338.00 to $330.00 and set a “neutral” rating on the stock in a report on Monday, September 21st. Weiss Ratings downgraded shares of Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Wells Fargo & Company set a $311.00 target price on shares of Public Storage in a research note on Tuesday, September 1st. Mizuho increased their price target on Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Finally, Truist Financial initiated 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. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $325.79.

Public Storage Trading Down 0.2%

Public Storage stock opened at $335.38 on Thursday. The business has a 50-day simple moving average of $302.31 and a two-hundred day simple moving average of $304.77. The company has a market cap of $62.66 billion, a P/E ratio of 35.12, a P/E/G 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 quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.16.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing the consensus estimate of $2.49 by ($0.80). Public Storage had a net margin of 37.76% and a return on equity of 29.93%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company earned $4.31 EPS. Public Storage’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts predict that Public Storage will post 16.97 EPS for the current year.

Public Storage Dividend Announcement

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

Public Storage Profile

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.