Public Storage (NYSE:PSA) Stock Position Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Public Storage (NYSE:PSA) by 11.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,266 shares of the real estate investment trust’s stock after selling 6,228 shares during the period. Victory Capital Management Inc.’s holdings in Public Storage were worth $15,026,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its position in Public Storage by 3.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 35 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Public Storage by 4.1% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock valued at $289,000 after purchasing an additional 43 shares during the period. Wealth Alliance raised its stake in shares of Public Storage by 5.3% during the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 43 shares in the last quarter. RB Capital Management LLC raised its stake in shares of Public Storage by 1.1% during the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after purchasing an additional 43 shares in the last quarter. Finally, Aspire Private Capital LLC lifted its holdings in Public Storage by 44.0% in the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the topic of a number of recent analyst reports. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research report on Thursday, March 28th. BMO Capital Markets upped their target price on Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Scotiabank increased their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Public Storage in a research note on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price objective on the stock. Finally, Barclays started coverage on Public Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $330.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $305.00.

Public Storage Price Performance

NYSE PSA opened at $275.94 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25. The company has a market cap of $48.48 billion, a PE ratio of 25.06, a PEG ratio of 3.53 and a beta of 0.57. The stock’s 50-day moving average price is $275.73 and its two-hundred day moving average price is $276.18.

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). Public Storage had a net margin of 45.62% and a return on equity of 36.17%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm earned $4.16 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be given a $3.00 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.35%. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Public Storage 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.