Public Storage (NYSE:PSA) Holdings Decreased by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC cut its position in shares of Public Storage (NYSE:PSAFree Report) by 42.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,150 shares of the real estate investment trust’s stock after selling 859 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Public Storage were worth $303,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AMI Investment Management Inc. acquired a new position in shares of Public Storage in the 1st quarter valued at about $267,000. Blair William & Co. IL lifted its holdings in Public Storage by 7.3% in the first quarter. Blair William & Co. IL now owns 2,668 shares of the real estate investment trust’s stock worth $1,041,000 after acquiring an additional 182 shares during the last quarter. Prudential PLC acquired a new position in Public Storage in the first quarter valued at approximately $1,374,000. Sequoia Financial Advisors LLC bought a new position in shares of Public Storage during the first quarter valued at approximately $398,000. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Public Storage by 19.0% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 13,506 shares of the real estate investment trust’s stock worth $5,271,000 after purchasing an additional 2,156 shares during the period. Institutional investors and hedge funds own 78.75% of the company’s stock.

Public Storage Trading Down 1.7 %

Shares of NYSE:PSA opened at $284.76 on Wednesday. Public Storage has a twelve month low of $233.18 and a twelve month high of $316.48. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.54. The firm has a market cap of $50.07 billion, a P/E ratio of 26.10, a P/E/G ratio of 3.98 and a beta of 0.55. The company has a 50 day moving average of $286.25 and a 200-day moving average of $275.03.

Public Storage (NYSE:PSAGet Free Report) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $3.20 EPS for the quarter, missing analysts’ consensus estimates of $4.21 by ($1.01). Public Storage had a return on equity of 34.76% and a net margin of 45.46%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm posted $4.13 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts anticipate that Public Storage will post 16.82 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Tuesday, December 12th. Public Storage’s payout ratio is 109.99%.

Analysts Set New Price Targets

PSA has been the subject of a number of analyst reports. Truist Financial boosted their price objective on Public Storage from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, December 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Public Storage in a report on Tuesday. They issued a “sell” rating and a $250.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Evercore ISI raised their price target on shares of Public Storage from $268.00 to $271.00 and gave the company an “in-line” rating in a research note on Monday, November 27th. Finally, Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $270.00 to $280.00 in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $296.25.

Read Our Latest Stock Report on PSA

Insider Activity

In other news, insider Nathaniel A. Vitan sold 400 shares of Public Storage stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $245.37, for a total value of $98,148.00. Following the transaction, the insider now owns 13,286 shares of the company’s stock, valued at approximately $3,259,985.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Nathaniel A. Vitan sold 265 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $282.17, for a total transaction of $74,775.05. Following the sale, the insider now directly owns 13,021 shares of the company’s stock, valued at $3,674,135.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $245.37, for a total value of $98,148.00. Following the completion of the transaction, the insider now owns 13,286 shares of the company’s stock, valued at approximately $3,259,985.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,665 shares of company stock worth $15,268,673. Corporate insiders own 10.90% of the company’s stock.

Public Storage Profile

(Free Report)

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 September 30, 2023, we had: (i) interests in 3,028 self-storage facilities located in 40 states with approximately 217 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 267 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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