Public Storage $PSA Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC cut its holdings in shares of Public Storage (NYSE:PSA) by 4.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,745 shares of the real estate investment trust’s stock after selling 84 shares during the period. Signet Financial Management LLC’s holdings in Public Storage were worth $512,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PSA. Nuveen LLC purchased a new position in shares of Public Storage during the 1st quarter valued at approximately $271,196,000. GAMMA Investing LLC raised its position in Public Storage by 34,827.1% during the first quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust’s stock worth $157,114,000 after acquiring an additional 523,452 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Public Storage by 68.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust’s stock valued at $348,670,000 after purchasing an additional 475,342 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Public Storage by 0.7% during the first quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust’s stock valued at $6,206,046,000 after purchasing an additional 143,575 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Public Storage by 9.8% in the first quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust’s stock valued at $462,774,000 after purchasing an additional 138,486 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PSA. UBS Group decreased their price target on shares of Public Storage from $305.00 to $295.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Evercore ISI raised their target price on Public Storage from $309.00 to $312.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Royal Bank Of Canada dropped their price target on Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a research report on Friday, August 1st. BNP Paribas upgraded Public Storage to a “strong-buy” rating in a report on Tuesday, June 24th. Finally, Barclays lowered their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $322.00.

Public Storage Stock Performance

NYSE:PSA opened at $280.43 on Friday. The company’s 50-day moving average is $286.42 and its two-hundred day moving average is $291.93. 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. The firm has a market capitalization of $49.20 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 4.66 and a beta of 0.86.

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

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.3%. Public Storage’s dividend payout ratio is currently 130.86%.

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.