U.S. Capital Wealth Advisors LLC Sells 109 Shares of Public Storage (NYSE:PSA)

U.S. Capital Wealth Advisors LLC cut its holdings in Public Storage (NYSE:PSA) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,887 shares of the real estate investment trust’s stock after selling 109 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Public Storage were worth $6,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Weaver Capital Management LLC grew its position in shares of Public Storage by 2.8% in the 3rd quarter. Weaver Capital Management LLC now owns 5,323 shares of the real estate investment trust’s stock worth $1,937,000 after buying an additional 147 shares during the last quarter. GAM Holding AG raised its holdings in shares of Public Storage by 0.4% during the third quarter. GAM Holding AG now owns 33,074 shares of the real estate investment trust’s stock valued at $12,034,000 after acquiring an additional 135 shares in the last quarter. Private Advisor Group LLC lifted its stake in Public Storage by 13.3% in the third quarter. Private Advisor Group LLC now owns 5,849 shares of the real estate investment trust’s stock worth $2,128,000 after acquiring an additional 688 shares during the period. Segment Wealth Management LLC boosted its holdings in Public Storage by 76.5% in the third quarter. Segment Wealth Management LLC now owns 5,343 shares of the real estate investment trust’s stock valued at $1,944,000 after acquiring an additional 2,315 shares in the last quarter. Finally, Leo Wealth LLC purchased a new position in Public Storage during the 3rd quarter valued at $218,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 1.3 %

Shares of NYSE:PSA traded up $4.31 during trading on Wednesday, reaching $339.23. 131,357 shares of the stock traded hands, compared to its average volume of 705,561. The stock has a market cap of $59.37 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 4.87 and a beta of 0.68. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a 50-day moving average of $346.44 and a two-hundred day moving average of $306.11. Public Storage has a 52-week low of $233.18 and a 52-week high of $369.99.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The business had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $1.16 billion. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.28 earnings per share. As a group, sell-side analysts expect that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.54%. The ex-dividend date was Friday, September 13th. Public Storage’s dividend payout ratio is currently 112.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PSA shares. Truist Financial lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price objective on Public Storage from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday. Scotiabank increased their target price on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Bank of America lowered Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target on the stock. in a research report on Monday, August 5th. Finally, Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and a consensus price target of $340.93.

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.