Geneos Wealth Management Inc. Sells 1,095 Shares of Public Storage (NYSE:PSA)

Geneos Wealth Management Inc. trimmed its stake in Public Storage (NYSE:PSA) by 58.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 771 shares of the real estate investment trust’s stock after selling 1,095 shares during the period. Geneos Wealth Management Inc.’s holdings in Public Storage were worth $235,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PSA. Stiles Financial Services Inc lifted its stake in Public Storage by 45.3% in the fourth quarter. Stiles Financial Services Inc now owns 7,497 shares of the real estate investment trust’s stock valued at $2,286,000 after buying an additional 2,336 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Public Storage by 382.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,675 shares of the real estate investment trust’s stock worth $1,731,000 after acquiring an additional 4,498 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Public Storage during the fourth quarter worth $35,000. Dearborn Partners LLC grew its holdings in Public Storage by 3.4% in the fourth quarter. Dearborn Partners LLC now owns 2,474 shares of the real estate investment trust’s stock worth $755,000 after purchasing an additional 81 shares during the period. Finally, Pinnacle Bancorp Inc. increased its stake in Public Storage by 37.7% in the fourth quarter. Pinnacle Bancorp Inc. now owns 420 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 115 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Down 1.1 %

Shares of PSA stock opened at $272.14 on Monday. 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 company has a market capitalization of $47.81 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 3.57 and a beta of 0.54. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.80. The company has a 50-day simple moving average of $282.62 and a two-hundred day simple moving average of $276.56.

Public Storage (NYSE:PSA) last released its 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). The business 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%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.16 earnings per share. Research analysts anticipate that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Tuesday, March 12th. Public Storage’s payout ratio is 108.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PSA shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Public Storage in a research report on Tuesday, January 30th. They set a “sell” rating and a $250.00 price objective on the stock. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Truist Financial upped their target price on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, December 28th. Barclays began coverage on shares of Public Storage in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.