Prime Capital Investment Advisors LLC Sells 2,203 Shares of Public Storage $PSA

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in Public Storage (NYSE: PSA) by 72.6%, selling 2,203 shares and leaving them with 831 shares valued at $244,000.
• Analysts have mixed ratings on Public Storage, with an average target price of $322.92, as Evercore ISI raised its price target to $317.00 while Wall Street Zen downgraded the rating to "sell."
• Public Storage recently announced a dividend of $3.00 per share, representing an annual yield of 4.1%, with a payout ratio of 130.86%.

Prime Capital Investment Advisors LLC trimmed its position in shares of Public Storage (NYSE:PSA - Free Report) by 72.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 831 shares of the real estate investment trust's stock after selling 2,203 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Public Storage were worth $244,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PSA. Farther Finance Advisors LLC boosted its position in shares of Public Storage by 28.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,246 shares of the real estate investment trust's stock worth $671,000 after purchasing an additional 499 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Public Storage by 16.7% in the 1st quarter. GAMMA Investing LLC now owns 1,754 shares of the real estate investment trust's stock worth $525,000 after purchasing an additional 251 shares in the last quarter. Focus Financial Network Inc. bought a new stake in shares of Public Storage in the 1st quarter worth approximately $200,000. Simon Quick Advisors LLC bought a new stake in shares of Public Storage in the 1st quarter worth approximately $335,000. Finally, CVA Family Office LLC boosted its position in shares of Public Storage by 24.6% in the 1st quarter. CVA Family Office LLC now owns 238 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 47 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on PSA shares. Evercore ISI boosted their price target on Public Storage from $312.00 to $317.00 and gave the stock a "cautious" rating in a research report on Friday, October 3rd. Wall Street Zen cut Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. lowered their price objective on Public Storage from $324.00 to $321.00 and set an "overweight" rating on the stock in a research report on Friday, September 12th. Scotiabank lowered their price objective on Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 28th. Finally, BNP Paribas raised Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and an average target price of $322.92.

Public Storage Price Performance

Shares of PSA opened at $294.19 on Monday. The firm has a market cap of $51.62 billion, a PE ratio of 32.08, a P/E/G ratio of 4.88 and a beta of 0.89. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a fifty day simple moving average of $287.61 and a two-hundred day simple moving average of $291.48. Public Storage has a 1-year low of $256.60 and a 1-year high of $355.87.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $3.00 per share. The ex-dividend date was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. Public Storage's payout ratio is currently 130.86%.

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.

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