Public Storage (NYSE:PSA) Shares Sold by Sawyer & Company Inc

Sawyer & Company Inc reduced its holdings in Public Storage (NYSE:PSA) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,149 shares of the real estate investment trust’s stock after selling 99 shares during the period. Sawyer & Company Inc’s holdings in Public Storage were worth $1,840,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Public Storage in the fourth quarter worth approximately $931,286,000. Northern Trust Corp boosted its stake in shares of Public Storage by 43.4% in the fourth quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust’s stock worth $741,592,000 after acquiring an additional 749,913 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of Public Storage by 12.3% in the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust’s stock worth $1,626,731,000 after acquiring an additional 592,944 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Public Storage by 34,827.1% in the first quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust’s stock worth $157,114,000 after acquiring an additional 523,452 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Public Storage by 44.6% in the fourth quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust’s stock worth $421,538,000 after acquiring an additional 433,918 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

NYSE:PSA opened at $290.12 on Friday. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $50.90 billion, a P/E ratio of 28.81, a P/E/G ratio of 4.21 and a beta of 0.89. The stock’s fifty day moving average is $298.53 and its two-hundred day moving average is $299.30.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the business earned $4.03 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be given a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.14%. Public Storage’s dividend payout ratio is currently 119.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSA. Evercore ISI lifted their price target on Public Storage from $297.00 to $309.00 and gave the stock an “in-line” rating in a research note on Friday, May 2nd. Barclays lowered their price target on Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Scotiabank lifted their price target on Public Storage from $305.00 to $340.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 12th. BMO Capital Markets downgraded Public Storage from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $340.00 to $325.00 in a research report on Friday. Finally, Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.15.

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.