CWA Asset Management Group LLC Sells 3,306 Shares of Public Storage (NYSE:PSA)

CWA Asset Management Group LLC reduced its holdings in Public Storage (NYSE:PSA - Free Report) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,517 shares of the real estate investment trust's stock after selling 3,306 shares during the quarter. CWA Asset Management Group LLC's holdings in Public Storage were worth $13,922,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Werba Rubin Papier Wealth Management boosted its position in shares of Public Storage by 1.7% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock worth $681,000 after purchasing an additional 38 shares in the last quarter. Lido Advisors LLC raised its stake in Public Storage by 0.9% during the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock worth $1,287,000 after buying an additional 39 shares during the period. Integrated Advisors Network LLC boosted its holdings in Public Storage by 1.4% in the fourth quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust's stock worth $918,000 after acquiring an additional 41 shares in the last quarter. Atlas Brown Inc. boosted its holdings in Public Storage by 2.1% in the first quarter. Atlas Brown Inc. now owns 2,176 shares of the real estate investment trust's stock worth $651,000 after acquiring an additional 45 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in Public Storage by 24.6% in the first quarter. CVA Family Office LLC now owns 238 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 47 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target for the company in a research note on Thursday, April 10th. Bank of America raised their price objective on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Scotiabank lifted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a report on Monday, May 12th. Finally, Evercore ISI boosted their target price 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. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $339.25.

Public Storage Stock Down 0.9%

Shares of PSA traded down $2.79 during trading hours on Thursday, reaching $290.87. 766,836 shares of the stock traded hands, compared to its average volume of 746,299. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The company has a market cap of $51.03 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 4.21 and a beta of 0.89. The stock has a fifty day simple moving average of $298.07 and a 200 day simple moving average of $299.98. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77.

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

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be paid a $3.00 dividend. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.13%. Public Storage's dividend payout ratio (DPR) is presently 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.