Aew Capital Management L P Sells 2,380 Shares of Public Storage (NYSE:PSA)

Aew Capital Management L P decreased its position in shares of Public Storage (NYSE:PSA) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 323,735 shares of the real estate investment trust’s stock after selling 2,380 shares during the period. Public Storage accounts for approximately 3.6% of Aew Capital Management L P’s portfolio, making the stock its 9th biggest holding. Aew Capital Management L P owned about 0.18% of Public Storage worth $98,739,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Private Ocean LLC increased its position in Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 109 shares during the period. Centerpoint Advisors LLC acquired a new position in shares of Public Storage in the fourth quarter valued at approximately $35,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Public Storage in the fourth quarter valued at approximately $35,000. Avior Wealth Management LLC increased its holdings in shares of Public Storage by 49.5% in the third quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 48 shares during the period. Finally, Aspire Private Capital LLC increased its holdings in shares of Public Storage by 44.0% in the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

PSA traded down $0.95 during trading on Friday, reaching $257.73. 576,484 shares of the stock were exchanged, compared to its average volume of 720,981. The business’s 50 day moving average price is $278.68 and its two-hundred day moving average price is $276.31. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market capitalization of $45.28 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 3.44 and a beta of 0.54. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company earned $4.16 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.66%. Public Storage’s dividend payout ratio is currently 108.50%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PSA shares. The Goldman Sachs Group lifted their price target on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Scotiabank lifted their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research note on Monday, March 18th. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research note on Thursday, March 28th. Finally, Truist Financial lifted their price target on Public Storage from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $305.00.

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.