Trajan Wealth LLC Sells 67 Shares of Public Storage (NYSE:PSA)

Trajan Wealth LLC trimmed its position in Public Storage (NYSE:PSA) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,645 shares of the real estate investment trust’s stock after selling 67 shares during the quarter. Trajan Wealth LLC’s holdings in Public Storage were worth $5,693,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its stake in shares of Public Storage by 86.8% in the first quarter. Daiwa Securities Group Inc. now owns 645,168 shares of the real estate investment trust’s stock valued at $187,137,000 after acquiring an additional 299,826 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Public Storage by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,100,705 shares of the real estate investment trust’s stock worth $319,270,000 after purchasing an additional 281,800 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Public Storage by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock worth $1,575,794,000 after purchasing an additional 219,391 shares during the period. Vanguard Group Inc. raised its position in shares of Public Storage by 1.0% in the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after buying an additional 217,487 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Public Storage by 116.7% in the second quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock valued at $111,077,000 after buying an additional 208,546 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $331.26 on Wednesday. The firm’s fifty day moving average price is $347.97 and its two-hundred day moving average price is $308.07. The stock has a market cap of $57.98 billion, a PE ratio of 31.05, a PEG ratio of 4.74 and a beta of 0.68. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $369.99.

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

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is currently 112.46%.

Analysts Set New Price Targets

A number of equities analysts have commented on PSA shares. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company raised their price target on Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Barclays boosted their price target on Public Storage from $374.00 to $381.00 and gave the company an “overweight” rating in a research note on Monday. Jefferies Financial Group increased their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $341.43.

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.