Public Storage $PSA Shares Sold by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC trimmed its stake in Public Storage (NYSE:PSA) by 30.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,668 shares of the real estate investment trust’s stock after selling 736 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Public Storage were worth $489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PSA. TCW Group Inc. grew its position in Public Storage by 5.2% during the 1st quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock worth $4,099,000 after purchasing an additional 676 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Public Storage in the first quarter worth $1,124,000. Vanguard Group Inc. grew its holdings in shares of Public Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after buying an additional 143,575 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Public Storage by 3.0% during the first quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock valued at $31,118,000 after buying an additional 2,990 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its position in Public Storage by 181.2% during the first quarter. Meridian Wealth Management LLC now owns 3,712 shares of the real estate investment trust’s stock valued at $1,111,000 after buying an additional 2,392 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PSA shares. Evercore ISI decreased their price objective on Public Storage from $317.00 to $315.00 and set an “in-line” rating for the company in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target for the company in a research report on Monday, October 13th. Scotiabank lowered their price objective on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Barclays cut their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, Royal Bank Of Canada lowered their price target on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $325.38.

Public Storage Trading Down 0.0%

NYSE:PSA opened at $274.22 on Friday. The company has a market capitalization of $48.12 billion, a P/E ratio of 28.48, a P/E/G ratio of 4.72 and a beta of 0.91. The stock’s 50 day moving average price is $289.39 and its 200 day moving average price is $291.87. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a 52 week low of $256.60 and a 52 week high of $355.87.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. During the same period in the prior year, the business earned $4.20 earnings per share. Public Storage’s revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, research analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.4%. The ex-dividend date is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

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.