Capital Management Associates Inc lessened its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 25.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,918 shares of the real estate investment trust's stock after selling 2,000 shares during the quarter. Capital Management Associates Inc's holdings in Public Storage were worth $1,771,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in shares of Public Storage in the 4th quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Public Storage during the fourth quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the first quarter valued at $36,000. Millstone Evans Group LLC purchased a new position in Public Storage in the 4th quarter worth about $38,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of Public Storage during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 78.79% of the company's stock.
Analyst Upgrades and Downgrades
PSA has been the topic of several analyst reports. Royal Bank Of Canada dropped their price target on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. BNP Paribas Exane started coverage on shares of Public Storage in a research report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price objective on the stock. Scotiabank raised their target price on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Bank of America upped their price target on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, BNP Paribas upgraded Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $337.64.
View Our Latest Analysis on PSA
Public Storage Trading Down 0.3%
NYSE:PSA opened at $296.27 on Monday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a 50-day simple moving average of $298.90 and a 200-day simple moving average of $297.17. Public Storage has a one year low of $256.60 and a one year high of $369.99. The firm has a market cap of $51.97 billion, a P/E ratio of 29.42, a P/E/G ratio of 4.29 and a beta of 0.86.
Public Storage (NYSE:PSA - Get Free Report) last posted its 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. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. Public Storage's revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.03 earnings per share. Equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.
Public Storage Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were given a dividend of $3.00 per share. The ex-dividend date was Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.05%. Public Storage's payout ratio is 119.17%.
Public Storage Profile
(
Free Report)
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.
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