Public Storage (NYSE:PSA) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. decreased its holdings in shares of Public Storage (NYSE:PSAFree Report) by 13.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,849 shares of the real estate investment trust’s stock after selling 296 shares during the period. Raymond James Trust N.A.’s holdings in Public Storage were worth $564,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in shares of Public Storage during the first quarter worth $26,000. ICA Group Wealth Management LLC acquired a new stake in shares of Public Storage during the fourth quarter worth $29,000. Live Oak Investment Partners purchased a new position in shares of Public Storage in the 4th quarter worth $34,000. Avior Wealth Management LLC raised its position in shares of Public Storage by 49.5% in the 3rd quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 48 shares during the period. Finally, Aspire Private Capital LLC raised its position in shares of Public Storage by 44.0% in the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 78.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PSA shares. The Goldman Sachs Group increased their target price on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. BMO Capital Markets boosted their price objective on Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $270.00 to $280.00 in a research note on Tuesday, December 12th. Scotiabank boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on Public Storage in a research note on Tuesday, January 30th. They set a “sell” rating and a $250.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and a consensus price target of $297.00.

Get Our Latest Stock Report on PSA

Public Storage Trading Down 0.9 %

NYSE:PSA opened at $279.37 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $49.08 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 3.70 and a beta of 0.54. Public Storage has a one year low of $233.18 and a one year high of $316.48. The business’s 50-day simple moving average is $284.83 and its 200 day simple moving average is $275.19.

Public Storage (NYSE:PSAGet Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. Public Storage’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $4.16 earnings per share. As a group, sell-side analysts predict that Public Storage will post 16.91 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.30%. The ex-dividend date is Tuesday, March 12th. Public Storage’s dividend payout ratio is presently 108.50%.

Public Storage Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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