Public Storage (NYSE:PSA) Shares Sold by Blair William & Co. IL

Blair William & Co. IL decreased its position in Public Storage (NYSE:PSA) by 5.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,886 shares of the real estate investment trust’s stock after selling 162 shares during the period. Blair William & Co. IL’s holdings in Public Storage were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Gryphon Financial Partners LLC increased its position in Public Storage by 2.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock valued at $476,000 after acquiring an additional 38 shares during the period. Signet Financial Management LLC grew its stake in shares of Public Storage by 2.1% in the first quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock worth $555,000 after purchasing an additional 39 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Public Storage by 0.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock valued at $1,201,000 after purchasing an additional 39 shares during the period. Brookstone Capital Management raised its stake in shares of Public Storage by 3.4% during the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 40 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its holdings in Public Storage by 3.5% in the first quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 42 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.7 %

PSA stock opened at $359.58 on Thursday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $63.19 billion, a P/E ratio of 32.66, a P/E/G ratio of 5.14 and a beta of 0.67. Public Storage has a 52-week low of $233.18 and a 52-week high of $366.80. The company’s 50 day simple moving average is $329.30 and its 200-day simple moving average is $296.87.

Public Storage (NYSE:PSA) last announced its earnings results 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 firm had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a net margin of 44.88% and a return on equity of 36.55%. Public Storage’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $4.28 earnings per share. As a group, equities research analysts anticipate that Public Storage will post 16.75 EPS for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 annualized dividend and a yield of 3.34%. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a research report on Monday, August 5th. Royal Bank of Canada began coverage on Public Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price for the company. Evercore ISI lifted their price target on Public Storage from $334.00 to $343.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Citigroup upped their price objective on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Barclays boosted their price target on shares of Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.08.

About Public Storage

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.