Public Storage (NYSE:PSA) Shares Sold by Doliver Advisors LP

Doliver Advisors LP lowered its position in Public Storage (NYSE:PSA) by 16.2% during the third quarter, HoldingsChannel reports. The firm owned 1,410 shares of the real estate investment trust’s stock after selling 273 shares during the period. Doliver Advisors LP’s holdings in Public Storage were worth $513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Public Storage by 4.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 129,091 shares of the real estate investment trust’s stock valued at $39,373,000 after buying an additional 5,239 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Public Storage in the first quarter valued at about $7,319,000. Centersquare Investment Management LLC increased its position in Public Storage by 17.2% during the first quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock worth $343,573,000 after purchasing an additional 173,975 shares during the last quarter. Scarborough Advisors LLC acquired a new position in Public Storage in the 4th quarter valued at about $4,701,000. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Public Storage in the 2nd quarter valued at approximately $14,301,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Citigroup boosted their price objective 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. Barclays boosted their price target on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Royal Bank of Canada began coverage on shares of Public Storage in a report on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price for the company. Finally, Wells Fargo & Company raised their price target on Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $337.36.

Public Storage Trading Down 1.3 %

NYSE PSA opened at $355.30 on Thursday. The stock has a market capitalization of $62.18 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 5.02 and a beta of 0.67. The firm has a 50 day moving average of $335.99 and a two-hundred day moving average of $299.85. Public Storage has a 52 week low of $233.18 and a 52 week high of $369.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). The business had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.28 earnings per share. As a group, research analysts expect that Public Storage will post 16.75 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is 108.99%.

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.