Little House Capital LLC Cuts Stock Position in Public Storage (NYSE:PSA)

Little House Capital LLC lessened its stake in Public Storage (NYSE:PSA) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,531 shares of the real estate investment trust’s stock after selling 524 shares during the period. Little House Capital LLC’s holdings in Public Storage were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Capital Wealth Partners LLC purchased a new position in Public Storage in the fourth quarter valued at about $228,000. PGGM Investments grew its stake in shares of Public Storage by 15.1% during the fourth quarter. PGGM Investments now owns 181,398 shares of the real estate investment trust’s stock worth $55,326,000 after acquiring an additional 23,848 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Public Storage by 0.9% during the fourth quarter. Russell Investments Group Ltd. now owns 812,793 shares of the real estate investment trust’s stock worth $248,236,000 after acquiring an additional 7,414 shares during the last quarter. Alexander Randolph Advisory Inc. purchased a new stake in shares of Public Storage during the fourth quarter worth about $245,000. Finally, Golden State Equity Partners purchased a new stake in shares of Public Storage during the fourth quarter worth about $204,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PSA. The Goldman Sachs Group boosted their price target on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Scotiabank boosted their price target on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research note on Monday, March 18th. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $280.00 to $310.00 in a research note on Friday, April 5th. Barclays initiated coverage on Public Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 target price for the company. Finally, BMO Capital Markets lifted their target price on Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $305.00.

Public Storage Stock Down 0.4 %

Shares of PSA traded down $0.95 during mid-day trading on Friday, reaching $257.73. The company’s stock had a trading volume of 577,684 shares, compared to its average volume of 582,087. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25. The stock has a market cap of $45.28 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 3.38 and a beta of 0.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62. The company’s 50 day moving average is $278.68 and its 200 day moving average is $276.34.

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 analysts’ consensus estimates of $4.15 by ($1.94). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.16 EPS. Equities analysts anticipate that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Announces Dividend

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

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.