AQR Capital Management LLC Sells 110,720 Shares of Public Storage $PSA

AQR Capital Management LLC lessened its position in shares of Public Storage (NYSE:PSA - Free Report) by 53.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,619 shares of the real estate investment trust's stock after selling 110,720 shares during the period. AQR Capital Management LLC owned 0.06% of Public Storage worth $28,869,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PSA. Captrust Financial Advisors raised its position in shares of Public Storage by 3.4% in the 4th quarter. Captrust Financial Advisors now owns 9,814 shares of the real estate investment trust's stock worth $2,939,000 after acquiring an additional 321 shares in the last quarter. Cresset Asset Management LLC increased its holdings in Public Storage by 200.9% in the fourth quarter. Cresset Asset Management LLC now owns 2,392 shares of the real estate investment trust's stock worth $716,000 after purchasing an additional 1,597 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Public Storage by 5.8% in the fourth quarter. EP Wealth Advisors LLC now owns 3,248 shares of the real estate investment trust's stock worth $973,000 after purchasing an additional 177 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Public Storage by 249.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 25,105 shares of the real estate investment trust's stock worth $7,517,000 after purchasing an additional 17,923 shares in the last quarter. Finally, Ethic Inc. increased its stake in shares of Public Storage by 21.0% in the 4th quarter. Ethic Inc. now owns 15,093 shares of the real estate investment trust's stock valued at $4,520,000 after acquiring an additional 2,618 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PSA shares. Barclays lowered their price objective on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Royal Bank Of Canada decreased their price target on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Wall Street Zen lowered Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Scotiabank decreased their target price on 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Public Storage presently has an average rating of "Moderate Buy" and an average price target of $331.62.

Public Storage Stock Down 0.9%

PSA traded down $2.62 during midday trading on Friday, reaching $292.30. 276,923 shares of the company were exchanged, compared to its average volume of 788,297. The company has a market cap of $51.29 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 4.79 and a beta of 0.86. 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 one year low of $256.60 and a one year high of $369.99. The company's fifty day moving average price is $287.47 and its 200 day moving average price is $293.67.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The business 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 company posted $4.23 earnings per share. Public Storage's revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage's dividend payout ratio is presently 130.86%.

Public Storage Company 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.