Nisa Investment Advisors LLC Sells 9,281 Shares of Public Storage (NYSE:PSA)

Nisa Investment Advisors LLC lessened its stake in Public Storage (NYSE:PSA - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,233 shares of the real estate investment trust's stock after selling 9,281 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.06% of Public Storage worth $29,656,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Public Storage by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 3,742,458 shares of the real estate investment trust's stock valued at $1,131,364,000 after purchasing an additional 129,555 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Public Storage by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust's stock valued at $835,032,000 after purchasing an additional 729,262 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Public Storage by 63.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,755,605 shares of the real estate investment trust's stock valued at $832,580,000 after purchasing an additional 1,071,347 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Public Storage by 22.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,470,839 shares of the real estate investment trust's stock valued at $633,949,000 after purchasing an additional 451,864 shares during the last quarter. Finally, Norges Bank acquired a new stake in Public Storage during the 4th quarter valued at $670,512,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Price Performance

Shares of NYSE PSA traded up $5.16 during mid-day trading on Monday, reaching $287.73. The company had a trading volume of 468,751 shares, compared to its average volume of 735,722. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 0.62. Public Storage has a one year low of $233.18 and a one year high of $316.48. The firm has a market cap of $50.55 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 3.71 and a beta of 0.54. The business's 50-day simple moving average is $282.98 and its 200 day simple moving average is $276.14.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $4.15 by ($1.94). Public Storage had a return on equity of 35.31% and a net margin of 45.34%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business posted $4.16 EPS. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts predict that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Tuesday, March 12th. Public Storage's dividend payout ratio is presently 108.50%.

Analysts Set New Price Targets

Several brokerages have issued reports on PSA. Wells Fargo & Company raised Public Storage from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $280.00 to $310.00 in a report on Friday. BMO Capital Markets increased their price objective on Public Storage from $325.00 to $330.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft began coverage on Public Storage in a research report on Tuesday, January 30th. They set a "sell" rating and a $250.00 price objective on the stock. The Goldman Sachs Group increased their price objective on Public Storage from $307.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, January 11th. Finally, Scotiabank increased their price objective on Public Storage from $267.00 to $270.00 and gave the stock a "sector perform" rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and a consensus price target of $305.00.

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.