Summit Trail Advisors LLC Sells 377 Shares of Public Storage (NYSE:PSA)

Summit Trail Advisors LLC lessened its position in Public Storage (NYSE:PSA) by 29.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 922 shares of the real estate investment trust’s stock after selling 377 shares during the period. Summit Trail Advisors LLC’s holdings in Public Storage were worth $281,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Private Ocean LLC boosted its position in shares of Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 109 shares in the last quarter. Centerpoint Advisors LLC bought a new stake in Public Storage during the fourth quarter worth about $35,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Public Storage in the fourth quarter worth about $35,000. Aspire Private Capital LLC lifted its holdings in shares of Public Storage by 44.0% during the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 44 shares during the last quarter. Finally, Rise Advisors LLC boosted its position in shares of Public Storage by 165.5% in the 4th quarter. Rise Advisors LLC now owns 146 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSA. Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price on the stock in a research note on Thursday, March 28th. The Goldman Sachs Group lifted their target price on shares of Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Scotiabank raised their price target on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. Barclays began coverage on Public Storage in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on Public Storage in a research note on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $305.00.

Public Storage Stock Down 1.5 %

NYSE PSA opened at $269.12 on Thursday. Public Storage has a 52 week low of $233.18 and a 52 week high of $312.25. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $47.28 billion, a P/E ratio of 24.44, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57. The stock’s 50-day moving average price is $276.12 and its 200-day moving average price is $276.24.

Public Storage (NYSE:PSA) last released its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a return on equity of 36.17% and a net margin of 45.62%. Public Storage’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $4.16 EPS. On average, equities research analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.46%. Public Storage’s dividend payout ratio is currently 108.99%.

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.