Public Storage (NYSE:PSA) Shares Sold by Greenleaf Trust

Greenleaf Trust cut its stake in shares of Public Storage (NYSE:PSA) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,617 shares of the real estate investment trust’s stock after selling 72 shares during the quarter. Greenleaf Trust’s holdings in Public Storage were worth $493,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Private Ocean LLC lifted its holdings in shares of Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 109 shares during the period. Centerpoint Advisors LLC purchased a new position in Public Storage in the fourth quarter worth $35,000. Turtle Creek Wealth Advisors LLC purchased a new position in Public Storage in the fourth quarter worth $35,000. Aspire Private Capital LLC raised its position in Public Storage by 44.0% in the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 44 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in Public Storage by 49.5% in the third quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 48 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Up 0.4 %

Public Storage stock opened at $261.44 on Tuesday. The stock has a market cap of $45.93 billion, a PE ratio of 23.64, a P/E/G ratio of 3.42 and a beta of 0.54. The stock has a 50-day moving average price of $280.36 and a 200 day moving average price of $276.63. Public Storage has a 52 week low of $233.18 and a 52 week high of $312.25. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58.

Public Storage (NYSE:PSA) last posted 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). The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.16 EPS. Equities research analysts predict that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Tuesday, March 12th. Public Storage’s dividend payout ratio is presently 108.50%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSA. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a research report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price objective for the company. The Goldman Sachs Group increased their price objective on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Scotiabank increased 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. Barclays started coverage on Public Storage in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price target for the company. Finally, Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.