Laurion Capital Management LP Sells 25,028 Shares of Public Storage (NYSE:PSA)

Laurion Capital Management LP cut its position in Public Storage (NYSE:PSA - Free Report) by 96.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 874 shares of the real estate investment trust's stock after selling 25,028 shares during the quarter. Laurion Capital Management LP's holdings in Public Storage were worth $262,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

PSA has been the subject of a number of analyst reports. Mizuho assumed coverage on Public Storage in a report on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price target for the company. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 target price for the company in a research note on Thursday, April 10th. Royal Bank of Canada decreased 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. Evercore ISI increased 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. Finally, Barclays reaffirmed an "overweight" rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $337.67.

Public Storage Price Performance

PSA stock traded up $6.80 during midday trading on Thursday, reaching $304.99. The company had a trading volume of 532,650 shares, compared to its average volume of 745,404. The firm has a 50-day moving average price of $293.61 and a 200-day moving average price of $306.15. The company has a market capitalization of $53.50 billion, a P/E ratio of 31.67, a P/E/G ratio of 4.91 and a beta of 0.91. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business earned $4.03 earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be issued a dividend of $3.00 per share. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.93%. Public Storage's dividend payout ratio is 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.