Public Storage (NYSE:PSA) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lessened its position in shares of Public Storage (NYSE:PSA - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,742 shares of the real estate investment trust's stock after selling 1,648 shares during the quarter. Rafferty Asset Management LLC's holdings in Public Storage were worth $6,211,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group increased its position in shares of Public Storage by 3.4% during the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust's stock worth $345,000 after purchasing an additional 38 shares in the last quarter. Werba Rubin Papier Wealth Management grew its stake in 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 buying an additional 38 shares during the last quarter. Lido Advisors LLC grew 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 last quarter. Premier Path Wealth Partners LLC raised its stake in Public Storage by 3.4% in the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust's stock valued at $366,000 after buying an additional 40 shares during the last quarter. Finally, Global X Japan Co. Ltd. boosted its holdings in Public Storage by 13.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE PSA traded up $0.24 on Friday, reaching $296.02. 222,005 shares of the company's stock traded hands, compared to its average volume of 768,204. The stock has a 50 day moving average price of $293.74 and a 200-day moving average price of $305.00. The firm has a market cap of $51.93 billion, a price-to-earnings ratio of 30.74, a P/E/G ratio of 4.91 and a beta of 0.91. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99.

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 return on equity of 34.07% and a net margin of 40.54%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the company earned $4.03 earnings per share. Public Storage's revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.05%. Public Storage's dividend payout ratio is presently 119.17%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSA. Bank of America upped their price objective on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Mizuho initiated coverage on shares of Public Storage in a research note on Wednesday, April 9th. They set a "neutral" rating and a $287.00 price target on the stock. Evercore ISI raised their price target on shares of Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Scotiabank lifted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Finally, Barclays dropped their price objective on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Five 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $337.42.

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.