Vident Advisory LLC Sells 1,235 Shares of Public Storage (NYSE:PSA)

Vident Advisory LLC lowered its stake in shares of Public Storage (NYSE:PSA) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,827 shares of the real estate investment trust’s stock after selling 1,235 shares during the quarter. Vident Advisory LLC’s holdings in Public Storage were worth $2,345,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PSA. Quent Capital LLC grew 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 valued at $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 valued at $32,000. Synergy Asset Management LLC bought a new position in Public Storage in the 4th quarter valued at $38,000. Millstone Evans Group LLC bought a new position in Public Storage in the 4th quarter valued at $38,000. Finally, Parvin Asset Management LLC bought a new position in Public Storage in the 4th quarter valued at $38,000. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PSA shares. Royal Bank of Canada reduced their price objective on Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a research note on Thursday, April 10th. Scotiabank upped their price objective on Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a research note on Monday, May 12th. Barclays dropped their price target on Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Wells Fargo & Company dropped their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $337.42.

Public Storage Stock Down 3.8%

Shares of NYSE PSA opened at $296.13 on Thursday. The business’s fifty day moving average price is $293.82 and its 200-day moving average price is $305.26. The stock has a market capitalization of $51.95 billion, a PE ratio of 30.75, a P/E/G ratio of 4.91 and a beta of 0.91. 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 has a one year low of $256.60 and a one year high of $369.99.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. The business 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 firm’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 EPS. On average, equities research analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.05%. 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.