Sigma Planning Corp Sells 175 Shares of Public Storage (NYSE:PSA)

Sigma Planning Corp lowered its position in Public Storage (NYSE:PSA) by 19.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 716 shares of the real estate investment trust’s stock after selling 175 shares during the period. Sigma Planning Corp’s holdings in Public Storage were worth $218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Ocean LLC raised its holdings in Public Storage by 5,450.0% in the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 109 shares in the last quarter. Centerpoint Advisors LLC purchased a new stake in Public Storage in the fourth quarter worth about $35,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Public Storage during the fourth quarter valued at approximately $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 raised its stake in Public Storage by 165.5% during the fourth quarter. Rise Advisors LLC now owns 146 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

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

Public Storage Trading Up 2.0 %

Shares of Public Storage stock opened at $262.95 on Tuesday. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25. The company’s fifty day simple moving average is $278.31 and its 200-day simple moving average is $276.27. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $46.20 billion, a PE ratio of 23.77, a P/E/G ratio of 3.38 and a beta of 0.54.

Public Storage (NYSE:PSA) last released 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). The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. Public Storage’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.16 earnings per share. As a group, equities analysts anticipate that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.56%. The ex-dividend date was Tuesday, March 12th. Public Storage’s dividend payout ratio is 108.50%.

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.