Two Sigma Investments LP Cuts Stock Holdings in Public Storage (NYSE:PSA)

Two Sigma Investments LP trimmed its position in Public Storage (NYSE:PSA - Free Report) by 41.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,000 shares of the real estate investment trust's stock after selling 1,400 shares during the period. Two Sigma Investments LP's holdings in Public Storage were worth $599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSA. Werba Rubin Papier Wealth Management lifted its stake in Public Storage by 1.7% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust's stock valued at $681,000 after purchasing an additional 38 shares during the last quarter. Lido Advisors LLC boosted its holdings in Public Storage by 0.9% in the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock valued at $1,287,000 after purchasing an additional 39 shares during the period. Kingsview Wealth Management LLC grew its position in Public Storage by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,090 shares of the real estate investment trust's stock worth $326,000 after buying an additional 44 shares in the last quarter. Quent Capital LLC increased its stake in Public Storage by 135.1% in the 4th 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 last quarter. Finally, HUB Investment Partners LLC raised its holdings in shares of Public Storage by 3.8% in the 4th quarter. HUB Investment Partners LLC now owns 1,365 shares of the real estate investment trust's stock valued at $409,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Evercore ISI boosted their price objective on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a report on Friday, May 2nd. Barclays cut their price target on shares of Public Storage from $354.00 to $351.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Bank of America raised their price objective on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Royal Bank of Canada lowered their price target on 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. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $339.25.

Public Storage Trading Down 0.1%

PSA stock traded down $0.26 during midday trading on Monday, reaching $302.65. 567,507 shares of the company traded hands, compared to its average volume of 775,058. The firm has a market capitalization of $53.09 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 4.91 and a beta of 0.89. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50 day moving average of $295.50 and a 200-day moving average of $302.14. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts' consensus estimates of $4.06 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.03 earnings per share. As a group, sell-side analysts expect that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Thursday, June 12th. Public Storage's dividend payout ratio is presently 119.17%.

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.