Ethic Inc. Sells 1,212 Shares of Public Storage (NYSE:PSA)

Key Points

• Ethic Inc. reduced its holdings in Public Storage (NYSE:PSA) by 8.0%, selling 1,212 shares during the first quarter, bringing their total ownership to 13,881 shares valued at approximately $4.15 million.
• Several institutional investors increased their positions in Public Storage, with Vanguard Group owning over 20.7 million shares, while overall, institutional investors hold 78.79% of the company's stock.
• Wall Street analysts have mixed ratings on Public Storage, with a consensus rating of "Moderate Buy" and a target price of $335.43, alongside multiple adjustments in price objectives from different research firms.

Ethic Inc. lessened its holdings in Public Storage (NYSE:PSA - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,881 shares of the real estate investment trust's stock after selling 1,212 shares during the quarter. Ethic Inc.'s holdings in Public Storage were worth $4,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PSA. Vanguard Group Inc. lifted its position in shares of Public Storage by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock valued at $6,206,046,000 after buying an additional 143,575 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Public Storage by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust's stock valued at $848,425,000 after buying an additional 34,718 shares during the last quarter. Northern Trust Corp lifted its position in shares of Public Storage by 43.4% during the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock valued at $741,592,000 after buying an additional 749,913 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Public Storage by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust's stock valued at $638,805,000 after buying an additional 12,204 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Public Storage by 10.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,702,522 shares of the real estate investment trust's stock valued at $509,803,000 after buying an additional 158,665 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen cut Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Mizuho increased their price objective on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Bank of America increased their price objective on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $340.00 to $325.00 in a report on Friday, June 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $335.43.

Public Storage Stock Performance

NYSE:PSA opened at $283.13 on Friday. The business's 50-day moving average price is $289.02 and its two-hundred day moving average price is $294.88. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The stock has a market cap of $49.68 billion, a P/E ratio of 30.88, a PEG ratio of 4.70 and a beta of 0.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating 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 firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter last year, the firm posted $4.23 EPS. The company's revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

About Public Storage

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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