GTS Securities LLC Reduces Position in Public Storage (NYSE:PSA)

GTS Securities LLC cut its position in shares of Public Storage (NYSE:PSA - Free Report) by 84.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,002 shares of the real estate investment trust's stock after selling 5,395 shares during the quarter. GTS Securities LLC's holdings in Public Storage were worth $300,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Cohen & Steers Inc. boosted its position in Public Storage by 12.3% during the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock valued at $1,626,731,000 after purchasing an additional 592,944 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Public Storage by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust's stock worth $1,197,769,000 after purchasing an additional 78,472 shares during the last quarter. Norges Bank acquired a new position in shares of Public Storage during the 4th quarter worth about $931,286,000. Northern Trust Corp increased its stake in Public Storage by 43.4% during the fourth quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock valued at $741,592,000 after acquiring an additional 749,913 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Public Storage by 10.3% during the fourth 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 acquiring an additional 158,665 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSA. Barclays reduced their target price on Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada lowered their price objective on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Evercore ISI increased their target price on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Finally, Scotiabank raised their price objective on Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $339.25.

Public Storage Price Performance

PSA traded up $1.82 during trading on Friday, hitting $307.84. 1,601,160 shares of the company traded hands, compared to its average volume of 746,015. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The company has a market cap of $54.00 billion, a PE ratio of 31.97, a P/E/G ratio of 4.91 and a beta of 0.91. The stock's 50-day simple moving average is $294.61 and its two-hundred day simple moving average is $303.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The business's revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $4.03 EPS. As a group, sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be issued a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.90%. Public Storage's dividend payout ratio is currently 119.17%.

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.