Walleye Capital LLC Sells 1,182 Shares of Public Storage $PSA

Key Points

• Walleye Capital LLC reduced its stake in Public Storage by 45.6% in the first quarter, now holding 1,410 shares valued at $422,000.
• Public Storage's stock is currently down 2.2%, trading at $288.11, and has a 12-month range of $256.60 to $369.99.
• The company announced a quarterly dividend of $3.00 to be paid on September 30th, representing a yield of 4.2%.

Walleye Capital LLC lowered its stake in shares of Public Storage (NYSE:PSA - Free Report) by 45.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,410 shares of the real estate investment trust's stock after selling 1,182 shares during the quarter. Walleye Capital LLC's holdings in Public Storage were worth $422,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. AXA S.A. raised its stake in Public Storage by 17.8% during the 4th quarter. AXA S.A. now owns 28,288 shares of the real estate investment trust's stock valued at $8,471,000 after purchasing an additional 4,280 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Public Storage by 4.4% during the fourth quarter. Bank of America Corp DE now owns 898,537 shares of the real estate investment trust's stock valued at $269,058,000 after acquiring an additional 38,276 shares during the period. Baird Financial Group Inc. grew its stake in Public Storage by 2.7% during the fourth quarter. Baird Financial Group Inc. now owns 19,972 shares of the real estate investment trust's stock worth $5,980,000 after buying an additional 531 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in Public Storage during the 4th quarter valued at $350,000. Finally, Captrust Financial Advisors raised its holdings in shares of Public Storage by 3.4% in the fourth quarter. Captrust Financial Advisors now owns 9,814 shares of the real estate investment trust's stock valued at $2,939,000 after buying an additional 321 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Up 0.2%

PSA traded up $0.44 during trading on Thursday, hitting $292.20. The company had a trading volume of 692,968 shares, compared to its average volume of 594,828. The company has a market capitalization of $51.27 billion, a PE ratio of 31.86, a PEG ratio of 4.84 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 has a one year low of $256.60 and a one year high of $369.99. The firm's 50-day moving average price is $287.56 and its 200 day moving average price is $293.96.

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 (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Public Storage's dividend payout ratio (DPR) is currently 130.86%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BNP Paribas Exane initiated coverage on shares of Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price target for the company. Wells Fargo & Company decreased their price objective on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Evercore ISI raised their price target on Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Finally, Barclays lowered their price objective on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Public Storage has an average rating of "Moderate Buy" and a consensus price target of $331.62.

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.