Plimoth Trust Co. LLC Has $875,000 Stock Holdings in Public Storage (NYSE:PSA)

Plimoth Trust Co. LLC lowered its position in Public Storage (NYSE:PSA) by 40.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,925 shares of the real estate investment trust’s stock after selling 1,968 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Public Storage were worth $875,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Public Storage by 30.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock valued at $40,926,000 after acquiring an additional 31,662 shares during the period. Brighton Jones LLC grew its stake in shares of Public Storage by 9.7% in the first quarter. Brighton Jones LLC now owns 1,726 shares of the real estate investment trust’s stock worth $517,000 after purchasing an additional 152 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in Public Storage in the fourth quarter valued at $395,000. Aew Capital Management L P raised its position in Public Storage by 108.6% during the 4th quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock worth $131,574,000 after purchasing an additional 228,740 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Public Storage by 53.5% during the 4th quarter. Jones Financial Companies Lllp now owns 19,234 shares of the real estate investment trust’s stock worth $5,759,000 after buying an additional 6,706 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $290.87 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a fifty day moving average of $298.07 and a 200-day moving average of $299.98. The firm has a market capitalization of $51.03 billion, a P/E ratio of 28.89, a P/E/G ratio of 4.25 and a beta of 0.89.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $4.06 by $0.06. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the company posted $4.03 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. As a group, sell-side analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, June 12th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, June 12th. Public Storage’s payout ratio is 119.17%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Mizuho upped their target price on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a report on Wednesday, May 28th. Royal Bank Of Canada lowered their price target on shares of Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a report on Friday, May 2nd. Truist Financial raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective on the stock in a research note on Thursday, April 10th. Finally, Barclays decreased their price objective on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.25.

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.