Chilton Capital Management LLC Sells 3,405 Shares of Public Storage (NYSE:PSA)

Chilton Capital Management LLC lessened its position in Public Storage (NYSE:PSA - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,260 shares of the real estate investment trust's stock after selling 3,405 shares during the period. Chilton Capital Management LLC's holdings in Public Storage were worth $16,838,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Public Storage by 30.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust's stock valued at $40,926,000 after buying an additional 31,662 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Public Storage by 12.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,236 shares of the real estate investment trust's stock worth $13,240,000 after acquiring an additional 4,746 shares during the period. Brighton Jones LLC increased its position in Public Storage by 9.7% during the first quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust's stock valued at $517,000 after acquiring an additional 152 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Public Storage by 1.2% in the first quarter. Asset Management One Co. Ltd. now owns 310,601 shares of the real estate investment trust's stock valued at $92,960,000 after acquiring an additional 3,627 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in Public Storage by 43.3% in the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust's stock valued at $1,083,000 after acquiring an additional 1,093 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of NYSE PSA traded down $4.42 during mid-day trading on Monday, hitting $291.90. 849,727 shares of the company's stock traded hands, compared to its average volume of 752,398. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The company's 50-day moving average is $298.90 and its two-hundred day moving average is $297.17. The company has a market capitalization of $51.21 billion, a P/E ratio of 28.99, a PEG ratio of 4.29 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts' consensus estimates of $4.06 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.18 billion. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.03 EPS. On average, equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Thursday, June 12th. Public Storage's dividend payout ratio (DPR) is currently 119.17%.

Analyst Upgrades and Downgrades

PSA has been the topic of several analyst reports. Scotiabank lifted their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Mizuho upped their price target on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Bank of America boosted their price objective on Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. BNP Paribas Exane initiated coverage on shares of Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. Finally, Evercore ISI upped their price target on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $337.64.

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.