Public Storage (NYSE:PSA) Shares Sold by Vident Advisory LLC

Vident Advisory LLC reduced its position in Public Storage (NYSE:PSA - Free Report) by 13.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,827 shares of the real estate investment trust's stock after selling 1,235 shares during the period. Vident Advisory LLC's holdings in Public Storage were worth $2,345,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Werba Rubin Papier Wealth Management increased its stake in Public Storage by 1.7% in the 4th 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 in the last quarter. Lido Advisors LLC increased its position in Public Storage by 0.9% during the fourth 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 in the last quarter. Global X Japan Co. Ltd. increased its position in Public Storage by 13.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 333 shares of the real estate investment trust's stock worth $100,000 after buying an additional 40 shares in the last quarter. Yoder Wealth Management Inc. increased its position in Public Storage by 5.4% during the fourth quarter. Yoder Wealth Management Inc. now owns 804 shares of the real estate investment trust's stock worth $241,000 after buying an additional 41 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased 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. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PSA shares. Scotiabank raised their price target on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Truist Financial raised Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price target for the company in a research report on Thursday, April 10th. Royal Bank of Canada dropped their price target on Public Storage from $329.00 to $328.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Bank of America raised their price target on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their price target on Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and an average price target of $337.42.

Public Storage Trading Up 1.2%

Public Storage stock traded up $3.58 during midday trading on Tuesday, reaching $300.28. The stock had a trading volume of 196,936 shares, compared to its average volume of 765,621. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The stock has a market capitalization of $52.68 billion, a PE ratio of 31.18, a price-to-earnings-growth 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. The stock's 50-day simple moving average is $293.73 and its 200 day simple moving average is $304.06.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.18 billion. During the same quarter last year, the firm earned $4.03 earnings per share. The firm's revenue for the quarter was up .1% compared to the same quarter last year. Analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

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

Public Storage Company 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.