Simplicity Solutions LLC Has $358,000 Holdings in Public Storage (NYSE:PSA)

Simplicity Solutions LLC lessened its position in Public Storage (NYSE:PSA) by 15.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,173 shares of the real estate investment trust’s stock after selling 207 shares during the quarter. Simplicity Solutions LLC’s holdings in Public Storage were worth $358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its position in shares of Public Storage by 3.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 35 shares during the last quarter. Kinneret Advisory LLC increased its position in Public Storage by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 1,678 shares of the real estate investment trust’s stock worth $655,000 after buying an additional 37 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Public Storage by 4.1% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 43 shares during the last quarter. Wealth Alliance boosted its position in shares of Public Storage by 5.3% in the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 43 shares during the period. Finally, RB Capital Management LLC grew its stake in shares of Public Storage by 1.1% in the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock worth $1,048,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA stock opened at $260.39 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62. The stock’s fifty day simple moving average is $280.76 and its 200 day simple moving average is $276.35. Public Storage has a one year low of $233.18 and a one year high of $312.25. The firm has a market cap of $45.75 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 3.42 and a beta of 0.54.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.16 EPS. On average, analysts expect that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.61%. Public Storage’s dividend payout ratio is 108.50%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $280.00 to $310.00 in a research note on Friday, April 5th. The Goldman Sachs Group increased 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. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research note on Thursday, March 28th. Scotiabank raised their price objective on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. Finally, BMO Capital Markets boosted their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average target price of $305.00.

About Public Storage

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.