Sanibel Captiva Trust Company Inc. Has $268,000 Holdings in Public Storage (NYSE:PSA)

Sanibel Captiva Trust Company Inc. cut its holdings in shares of Public Storage (NYSE:PSA) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 897 shares of the real estate investment trust’s stock after selling 127 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Public Storage were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Quent Capital LLC boosted its position in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the period. Ameriflex Group Inc. bought a new stake in Public Storage during the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage in the fourth quarter valued at approximately $32,000. Millstone Evans Group LLC bought a new stake in Public Storage in the fourth quarter valued at approximately $38,000. Finally, Parvin Asset Management LLC bought a new stake in Public Storage in the fourth quarter valued at approximately $38,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Performance

Shares of Public Storage stock opened at $300.10 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The business has a 50-day moving average price of $296.11 and a two-hundred day moving average price of $301.90. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a market cap of $52.65 billion, a P/E ratio of 31.16, a PEG ratio of 4.91 and a beta of 0.89.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $4.03 EPS. The business’s revenue was up .1% compared to the same quarter last year. As a group, analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be paid a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.00%. Public Storage’s dividend payout ratio is presently 119.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PSA shares. Truist Financial raised Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a research report on Thursday, April 10th. Scotiabank upped their target price 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. Barclays cut their target price on Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Mizuho increased their price target on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Finally, Royal Bank of Canada dropped their price target on Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and a consensus target price of $339.25.

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.