Aspire Private Capital LLC Sells 44 Shares of Public Storage (NYSE:PSA)

Aspire Private Capital LLC lessened its holdings in shares of Public Storage (NYSE:PSA) by 30.6% during the 4th quarter, Holdings Channel reports. The firm owned 100 shares of the real estate investment trust’s stock after selling 44 shares during the period. Aspire Private Capital LLC’s holdings in Public Storage were worth $30,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AdvisorNet Financial Inc grew its holdings in Public Storage by 3.2% during the 4th 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 in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Public Storage by 4.1% during the 3rd 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 in the last quarter. Wealth Alliance grew its holdings in Public Storage by 5.3% during the 3rd 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 in the last quarter. RB Capital Management LLC grew its holdings in Public Storage by 1.1% during the 3rd 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 in the last quarter. Finally, Park Place Capital Corp grew its holdings in Public Storage by 28.0% during the 4th quarter. Park Place Capital Corp now owns 206 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 45 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.5 %

PSA stock traded up $1.36 on Tuesday, hitting $262.80. 100,595 shares of the company’s stock were exchanged, compared to its average volume of 719,275. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a 50 day moving average price of $280.36 and a two-hundred day moving average price of $276.63. The stock has a market cap of $46.17 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 3.42 and a beta of 0.54. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25.

Public Storage (NYSE:PSA) last posted its quarterly 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 firm 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%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.16 EPS. As a group, equities research analysts expect that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 4.57%. Public Storage’s payout ratio is presently 108.50%.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Scotiabank lifted their target price on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. Truist Financial raised their price target on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th. BMO Capital Markets raised their price target on Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, Barclays assumed coverage on Public Storage in a research report on Wednesday, March 27th. They set an “overweight” rating and a $330.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $305.00.

About Public Storage

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.