Signaturefd LLC Sells 137 Shares of Public Storage (NYSE:PSA)

Signaturefd LLC lessened its stake in shares of Public Storage (NYSE:PSA) by 10.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,167 shares of the real estate investment trust’s stock after selling 137 shares during the quarter. Signaturefd LLC’s holdings in Public Storage were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PSA. DAVENPORT & Co LLC lifted its position in shares of Public Storage by 3.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 2,536 shares of the real estate investment trust’s stock worth $668,000 after buying an additional 95 shares during the period. Avior Wealth Management LLC increased its holdings in Public Storage by 49.5% during the 3rd quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 48 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Public Storage by 4.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,155 shares of the real estate investment trust’s stock valued at $568,000 after purchasing an additional 101 shares in the last quarter. Czech National Bank increased its holdings in Public Storage by 47.7% during the 3rd quarter. Czech National Bank now owns 27,659 shares of the real estate investment trust’s stock valued at $7,289,000 after purchasing an additional 8,928 shares in the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new stake in Public Storage during the 3rd quarter valued at $2,558,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 1.3 %

Shares of Public Storage stock opened at $258.68 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The business has a fifty day simple moving average of $279.16 and a 200 day simple moving average of $276.39. The stock has a market cap of $45.45 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 3.44 and a beta of 0.54.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $4.16 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued 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 4.64%. Public Storage’s dividend payout ratio is presently 108.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays assumed coverage on Public Storage in a report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price target for the company. BMO Capital Markets raised their price target on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $280.00 to $310.00 in a report on Friday, April 5th. The Goldman Sachs Group raised their price target on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Scotiabank lifted their target price on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.00.

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.