Public Storage $PSA Shares Sold by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP lowered its position in shares of Public Storage (NYSE:PSA) by 19.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 9,165 shares of the real estate investment trust’s stock after selling 2,177 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Public Storage were worth $2,743,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in shares of Public Storage during the 4th quarter valued at about $30,000. Spectrum Wealth Counsel LLC purchased a new stake in Public Storage in the 1st quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Public Storage during the 1st quarter valued at approximately $36,000. Wayfinding Financial LLC purchased a new position in Public Storage during the first quarter worth about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Public Storage in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $291.53 on Thursday. The business has a 50 day moving average price of $287.56 and a 200 day moving average price of $293.96. The company has a market capitalization of $51.15 billion, a P/E ratio of 31.79, a PEG ratio of 4.89 and a beta of 0.86. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned $4.23 earnings per share. Public Storage’s revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Sell-side analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore ISI increased their price target on Public Storage from $308.00 to $309.00 and gave the company an “in-line” rating in a research report on Monday, August 4th. Royal Bank Of Canada reduced their target price on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a research note on Friday, August 1st. BNP Paribas raised Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. Barclays cut their price objective on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, Wells Fargo & Company reduced their target price on Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $331.62.

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.