Public Storage $PSA Shares Sold by Chilton Capital Management LLC

Chilton Capital Management LLC lowered its stake in shares of Public Storage (NYSE:PSA) by 20.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 44,573 shares of the real estate investment trust’s stock after selling 11,687 shares during the quarter. Chilton Capital Management LLC’s holdings in Public Storage were worth $13,079,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new position in Public Storage in the 1st quarter worth $271,196,000. Goldman Sachs Group Inc. increased its holdings in shares of Public Storage by 68.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock valued at $348,670,000 after purchasing an additional 475,342 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Public Storage in the second quarter worth about $94,297,000. Vanguard Group Inc. lifted 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 worth $6,206,046,000 after purchasing an additional 143,575 shares during the period. Finally, Deutsche Bank AG boosted its position in Public Storage by 9.8% in the first quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock valued at $462,774,000 after buying an additional 138,486 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Down 1.2%

PSA stock opened at $302.52 on Friday. The business’s 50-day moving average is $292.41 and its 200 day moving average is $292.80. Public Storage has a 12-month low of $256.60 and a 12-month high of $355.87. The stock has a market cap of $53.08 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 4.93 and a beta of 0.89. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned $4.23 EPS. Public Storage’s quarterly revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, sell-side analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of recent research reports. Scotiabank reduced their price target on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Wells Fargo & Company decreased their target price on shares of Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Evercore ISI increased their price target on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research note on Monday, October 13th. Finally, UBS Group lowered their price target on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $324.92.

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.