Stevens Capital Management LP Has $289,000 Stake in Public Storage (NYSE:PSA)

Key Points

• Stevens Capital Management LP significantly reduced its holdings in Public Storage by 69.1%, selling 2,165 shares and retaining only 967 shares valued at approximately $289,000 as of their latest SEC filing.
• Public Storage reported $4.12 earnings per share for the quarter, slightly exceeding the consensus estimate of $4.06, with a net margin of 41.74% and revenue of $1.18 billion.
• The company announced a quarterly dividend of $3.00 per share, reflecting an annual yield of 4.17%, although its payout ratio stands at 119.17%.

Stevens Capital Management LP decreased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 69.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 967 shares of the real estate investment trust's stock after selling 2,165 shares during the quarter. Stevens Capital Management LP's holdings in Public Storage were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Shum Financial Group Inc. increased its stake in Public Storage by 1.7% in the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock worth $625,000 after buying an additional 35 shares during the period. Lido Advisors LLC increased its stake in shares of Public Storage by 0.9% in the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock worth $1,287,000 after acquiring an additional 39 shares during the period. Integrated Advisors Network LLC lifted its stake in shares of Public Storage by 1.4% in the 4th quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust's stock valued at $918,000 after purchasing an additional 41 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Public Storage by 3.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,313 shares of the real estate investment trust's stock valued at $393,000 after purchasing an additional 41 shares during the period. Finally, Winch Advisory Services LLC increased its holdings in Public Storage by 39.8% in the 1st quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.7%

Shares of NYSE PSA traded down $2.01 during mid-day trading on Wednesday, hitting $290.56. 148,500 shares of the company traded hands, compared to its average volume of 796,488. The stock has a market capitalization of $50.97 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 4.17 and a beta of 0.86. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. The business has a 50 day moving average of $294.30 and a two-hundred day moving average of $296.02.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data 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. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company earned $4.03 EPS. The company's quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Thursday, June 12th were paid a $3.00 dividend. The ex-dividend date was Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.13%. Public Storage's payout ratio is 119.17%.

Analysts Set New Price Targets

A number of research analysts have commented on PSA shares. BNP Paribas Exane assumed coverage on shares of Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price on the stock. Truist Financial upgraded shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price on the stock in a research report on Thursday, April 10th. Royal Bank Of Canada lowered their target price on shares of Public Storage from $329.00 to $328.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Scotiabank raised their target price on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Finally, BNP Paribas raised Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $336.93.

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.