Public Storage (NYSE:PSA) Shares Sold by Greenleaf Trust

Greenleaf Trust lessened its holdings in shares of Public Storage (NYSE:PSA) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,617 shares of the real estate investment trust’s stock after selling 72 shares during the quarter. Greenleaf Trust’s holdings in Public Storage were worth $493,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc raised its position in Public Storage by 3.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 35 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Public Storage by 4.1% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 43 shares during the period. Wealth Alliance raised its position in Public Storage by 5.3% during the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after buying an additional 43 shares during the period. RB Capital Management LLC raised its position in Public Storage by 1.1% during the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after buying an additional 43 shares during the period. Finally, Aspire Private Capital LLC raised its position in 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 buying an additional 44 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $280.00 to $310.00 in a research report on Friday, April 5th. Scotiabank upped their target price 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. The Goldman Sachs Group upped their target price on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Barclays initiated coverage on Public Storage in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 target price on the stock. Finally, BMO Capital Markets upped their target price on Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $305.00.

Public Storage Price Performance

Shares of NYSE:PSA opened at $261.44 on Tuesday. The business has a 50 day moving average price of $280.36 and a 200 day moving average price of $276.63. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25. The company has a market cap of $45.93 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 3.42 and a beta of 0.54. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58.

Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company earned $4.16 EPS. Public Storage’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 annualized dividend and a yield of 4.59%. Public Storage’s payout ratio is 108.50%.

Public Storage 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.