Public Storage (NYSE:PSA) Shares Sold by Presima Securities ULC

Presima Securities ULC reduced its holdings in shares of Public Storage (NYSE:PSA) by 30.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,591 shares of the real estate investment trust’s stock after selling 31,261 shares during the quarter. Public Storage accounts for about 5.7% of Presima Securities ULC’s investment portfolio, making the stock its 5th largest holding. Presima Securities ULC’s holdings in Public Storage were worth $26,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PSA. Petredis Investment Advisors LLC grew its position in shares of Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after acquiring an additional 30 shares in the last quarter. Signet Financial Management LLC increased its stake in Public Storage by 2.1% during the first quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 39 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Public Storage by 0.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock valued at $1,201,000 after purchasing an additional 39 shares during the last quarter. Brookstone Capital Management raised its holdings in shares of Public Storage by 3.4% during the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after purchasing an additional 40 shares during the period. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Public Storage by 3.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 42 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

NYSE PSA opened at $347.80 on Thursday. Public Storage has a 12 month low of $233.18 and a 12 month high of $369.99. The firm has a market capitalization of $61.12 billion, a PE ratio of 31.59, a P/E/G ratio of 4.82 and a beta of 0.68. The company’s 50 day simple moving average is $344.50 and its 200 day simple moving average is $304.36. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). The firm had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.28 earnings per share. As a group, equities research analysts forecast that Public Storage will post 16.73 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Friday, September 13th. Public Storage’s payout ratio is 108.99%.

Analyst Ratings Changes

PSA has been the topic of several research reports. Scotiabank increased their price objective on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Barclays raised their price target on Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Royal Bank of Canada began coverage on Public Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price objective for the company. Truist Financial cut Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target on shares of Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $337.00.

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.