Vestmark Advisory Solutions Inc. Sells 94 Shares of Public Storage (NYSE:PSA)

Vestmark Advisory Solutions Inc. decreased its stake in shares of Public Storage (NYSE:PSA) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,877 shares of the real estate investment trust’s stock after selling 94 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Public Storage were worth $573,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its position in Public Storage by 3.3% during the third quarter. Commonwealth Equity Services LLC now owns 41,348 shares of the real estate investment trust’s stock valued at $10,896,000 after buying an additional 1,303 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Public Storage by 4.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 15,436 shares of the real estate investment trust’s stock worth $4,068,000 after buying an additional 599 shares in the last quarter. Raymond James & Associates raised its holdings in Public Storage by 38.8% in the third quarter. Raymond James & Associates now owns 109,787 shares of the real estate investment trust’s stock valued at $28,931,000 after acquiring an additional 30,673 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Public Storage by 14.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 55,656 shares of the real estate investment trust’s stock worth $14,666,000 after acquiring an additional 7,111 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Public Storage by 22.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,168 shares of the real estate investment trust’s stock valued at $571,000 after buying an additional 398 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

PSA traded up $1.71 on Monday, reaching $267.47. The stock had a trading volume of 101,734 shares, compared to its average volume of 724,968. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. The business’s 50-day moving average price is $276.44 and its two-hundred day moving average price is $276.00. The company has a market cap of $46.99 billion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57.

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). The business had revenue of $1.16 billion for 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% on a year-over-year basis. During the same period in the previous year, the company earned $4.16 earnings per share. Sell-side analysts forecast that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.49%. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PSA shares. The Goldman Sachs Group upped their price target on shares of Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Barclays assumed coverage on shares of Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 target price on the stock. 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 price objective for the company. BMO Capital Markets boosted their price target on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. One equities research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $305.00.

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.