Benjamin Edwards Inc. Sells 8,184 Shares of Public Storage $PSA

Benjamin Edwards Inc. decreased its stake in shares of Public Storage (NYSE:PSA) by 71.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,243 shares of the real estate investment trust’s stock after selling 8,184 shares during the quarter. Benjamin Edwards Inc.’s holdings in Public Storage were worth $937,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in Public Storage by 76.8% during the third quarter. SG Americas Securities LLC now owns 9,765 shares of the real estate investment trust’s stock worth $2,821,000 after buying an additional 4,243 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Public Storage by 9.1% in the 3rd quarter. HB Wealth Management LLC now owns 4,001 shares of the real estate investment trust’s stock valued at $1,156,000 after acquiring an additional 334 shares during the period. Caldwell Trust Co grew its position in shares of Public Storage by 420.0% in the 3rd quarter. Caldwell Trust Co now owns 260 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 210 shares during the period. CX Institutional increased its stake in shares of Public Storage by 41.9% during the 3rd quarter. CX Institutional now owns 2,084 shares of the real estate investment trust’s stock worth $602,000 after purchasing an additional 615 shares during the last quarter. Finally, Childress Capital Advisors LLC bought a new stake in shares of Public Storage in the 3rd quarter valued at about $267,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. UBS Group dropped their price objective on Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. BNP Paribas Exane reduced their target price on Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Morgan Stanley started coverage on Public Storage in a report on Friday, December 5th. They set an “equal weight” rating and a $290.00 target price on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $315.47.

Public Storage Trading Up 0.3%

Shares of NYSE:PSA opened at $279.90 on Wednesday. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49. The business has a 50 day moving average of $269.42 and a 200-day moving average of $282.57. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. The stock has a market cap of $49.11 billion, a PE ratio of 29.07, a P/E/G ratio of 6.79 and a beta of 1.01.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.3%. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.