GTS Securities LLC Sells 5,395 Shares of Public Storage (NYSE:PSA)

GTS Securities LLC reduced its stake in Public Storage (NYSE:PSA) by 84.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,002 shares of the real estate investment trust’s stock after selling 5,395 shares during the period. GTS Securities LLC’s holdings in Public Storage were worth $300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cohen & Steers Inc. increased its stake in Public Storage by 12.3% in the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust’s stock valued at $1,626,731,000 after purchasing an additional 592,944 shares in the last quarter. Geode Capital Management LLC increased its stake in Public Storage by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust’s stock valued at $1,197,769,000 after purchasing an additional 78,472 shares in the last quarter. Norges Bank bought a new stake in Public Storage in the fourth quarter valued at $931,286,000. Northern Trust Corp increased its stake in Public Storage by 43.4% in the fourth quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust’s stock valued at $741,592,000 after purchasing an additional 749,913 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Public Storage by 10.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,702,522 shares of the real estate investment trust’s stock valued at $509,803,000 after purchasing an additional 158,665 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSA has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Scotiabank lifted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Mizuho lifted their price objective on shares of Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a report on Wednesday. Evercore ISI lifted their price objective on shares of Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a report on Friday, May 2nd. Finally, Truist Financial upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Thursday, April 10th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.25.

Public Storage Stock Up 1.2%

PSA opened at $305.64 on Friday. The company’s 50-day moving average price is $294.24 and its two-hundred day moving average price is $303.80. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $53.62 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 4.91 and a beta of 0.91.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. Public Storage’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.03 EPS. As a group, equities analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 3.93%. Public Storage’s dividend payout ratio (DPR) is currently 119.17%.

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.