Tidal Investments LLC Sells 1,428 Shares of Public Storage (NYSE:PSA)

Tidal Investments LLC cut its stake in Public Storage (NYSE:PSA - Free Report) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,958 shares of the real estate investment trust's stock after selling 1,428 shares during the quarter. Tidal Investments LLC's holdings in Public Storage were worth $2,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PSA. Quent Capital LLC grew its stake in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 50 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage in the 4th quarter valued at $32,000. Synergy Asset Management LLC purchased a new stake in Public Storage in the 4th quarter worth $38,000. Millstone Evans Group LLC purchased a new stake in Public Storage in the 4th quarter worth $38,000. Finally, Parvin Asset Management LLC purchased a new stake in Public Storage during the fourth quarter valued at $38,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Up 1.1%

PSA stock traded up $3.16 during trading on Tuesday, hitting $299.86. The company had a trading volume of 158,955 shares, compared to its average volume of 765,449. The firm has a market capitalization of $52.60 billion, a P/E ratio of 31.14, a PEG ratio of 4.91 and a beta of 0.91. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The company has a 50 day simple moving average of $293.73 and a 200-day simple moving average of $304.06. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly 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. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The firm's revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.03 EPS. As a group, research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage's payout ratio is 119.17%.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of recent research reports. Scotiabank upped their price target on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Truist Financial raised 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 note on Thursday, April 10th. Barclays reduced their target price on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Evercore ISI increased their target price on shares of Public Storage from $297.00 to $309.00 and gave the company an "in-line" rating in a research note on Friday, May 2nd. Finally, Bank of America increased their target price 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. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.