ICW Investment Advisors LLC Sells 52 Shares of Public Storage (NYSE:PSA)

ICW Investment Advisors LLC lessened its position in shares of Public Storage (NYSE:PSA) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,685 shares of the real estate investment trust’s stock after selling 52 shares during the quarter. ICW Investment Advisors LLC’s holdings in Public Storage were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Gryphon Financial Partners LLC increased its holdings in Public Storage by 2.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 38 shares during the period. Signet Financial Management LLC increased its stake in Public Storage by 2.1% in the first quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after acquiring an additional 39 shares during the period. Assenagon Asset Management S.A. raised its position in Public Storage by 0.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock worth $1,201,000 after purchasing an additional 39 shares in the last quarter. Brookstone Capital Management lifted its stake in Public Storage by 3.4% during the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after purchasing an additional 40 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its holdings in Public Storage by 3.5% during the first quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $357,000 after purchasing an additional 42 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $274.29, for a total value of $109,716.00. Following the transaction, the insider now owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 11.00% of the company’s stock.

Public Storage Price Performance

Shares of PSA traded up $0.29 during mid-day trading on Friday, hitting $341.46. 37,228 shares of the company traded hands, compared to its average volume of 708,213. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $59.76 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 5.69 and a beta of 0.67. The business has a 50-day moving average of $311.94 and a 200 day moving average of $289.93. Public Storage has a one year low of $233.18 and a one year high of $347.77.

Public Storage (NYSE:PSA) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The firm had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $4.28 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts expect that Public Storage will post 16.72 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is 108.99%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSA. Citigroup increased their target price on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a research note on Thursday, August 1st. Evercore ISI boosted their target price on shares of Public Storage from $330.00 to $334.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Wells Fargo & Company increased their target price on shares of Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $323.77.

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.