Public Storage (NYSE:PSA) Shares Sold by Herold Advisors Inc.

Herold Advisors Inc. decreased its holdings in shares of Public Storage (NYSE:PSA) by 22.5% in the 4th quarter, Holdings Channel reports. The firm owned 705 shares of the real estate investment trust’s stock after selling 205 shares during the quarter. Herold Advisors Inc.’s holdings in Public Storage were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC lifted its stake in shares of Public Storage by 16.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock worth $2,567,000 after acquiring an additional 1,349 shares during the period. The Manufacturers Life Insurance Company lifted its position in Public Storage by 8.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock worth $32,638,000 after buying an additional 9,223 shares in the last quarter. Raymond James & Associates boosted its position in Public Storage by 4.3% during the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after purchasing an additional 4,695 shares during the last quarter. Ellsworth Advisors LLC lifted its holdings in shares of Public Storage by 615.7% during the 4th quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock valued at $6,040,000 after buying an additional 17,036 shares during the last quarter. Finally, 1834 Investment Advisors Co. increased its stake in shares of Public Storage by 115.3% during the 4th quarter. 1834 Investment Advisors Co. now owns 16,952 shares of the real estate investment trust’s stock worth $5,170,000 after purchasing an additional 9,078 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 0.4 %

NYSE:PSA traded down $0.95 during mid-day trading on Friday, hitting $257.73. 576,484 shares of the company’s stock were exchanged, compared to its average volume of 720,981. The company has a 50 day simple moving average of $278.68 and a 200-day simple moving average of $276.31. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $312.25. The firm has a market capitalization of $45.28 billion, a P/E ratio of 23.30, a PEG ratio of 3.44 and a beta of 0.54.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business posted $4.16 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts expect that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a dividend of $3.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.66%. Public Storage’s payout ratio is 108.50%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSA. BMO Capital Markets lifted their price target on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Truist Financial raised their price target on shares of Public Storage from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $280.00 to $310.00 in a research note on Friday, April 5th. The Goldman Sachs Group raised their price target on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Scotiabank raised their price target on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $305.00.

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.