Public Storage $PSA Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has decreased its stake in Public Storage by 51.5%, now owning 3,373 shares valued at approximately $1,010,000.
• Several analysts have recently adjusted their price targets for PSA, with BMO Capital Markets lowering theirs to $325 and Mizuho raising it to $309.
• Public Storage reported an earnings per share (EPS) of $4.28 for the last quarter, exceeding expectations by $0.05, amidst 2.4% year-over-year revenue growth.

Quantbot Technologies LP trimmed its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,373 shares of the real estate investment trust's stock after selling 3,586 shares during the quarter. Quantbot Technologies LP's holdings in Public Storage were worth $1,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new stake in Public Storage in the 4th quarter worth approximately $30,000. Spectrum Wealth Counsel LLC purchased a new position in Public Storage during the first quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new position in Public Storage during the first quarter valued at $36,000. Parvin Asset Management LLC purchased a new position in Public Storage during the fourth quarter valued at $38,000. Finally, Wayfinding Financial LLC bought a new stake in Public Storage during the first quarter valued at about $41,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

NYSE PSA traded up $3.05 during trading on Friday, reaching $294.72. The company's stock had a trading volume of 519,329 shares, compared to its average volume of 699,588. The firm has a market cap of $51.71 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 4.84 and a beta of 0.86. The business's fifty day moving average price is $287.69 and its 200-day moving average price is $294.13. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99.

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

Public Storage Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on PSA. BNP Paribas Exane assumed coverage on Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price target for the company. Mizuho upped their target price on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Wells Fargo & Company lowered their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $334.93.

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.