Public Storage (NYSE:PSA) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC reduced its holdings in Public Storage (NYSE:PSA) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,666 shares of the real estate investment trust’s stock after selling 56 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Public Storage were worth $8,133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc increased its holdings in shares of Public Storage by 3.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 35 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Public Storage by 4.1% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock worth $289,000 after acquiring an additional 43 shares during the last quarter. Wealth Alliance raised its position in Public Storage by 5.3% in the third quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 43 shares during the period. RB Capital Management LLC lifted its stake in shares of Public Storage by 1.1% in the 3rd quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock valued at $1,048,000 after purchasing an additional 43 shares during the last quarter. Finally, Aspire Private Capital LLC grew its holdings in shares of Public Storage by 44.0% during the 3rd quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 44 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Up 0.7 %

Public Storage stock traded up $1.83 during trading on Friday, reaching $265.76. The stock had a trading volume of 662,239 shares, compared to its average volume of 697,055. The company has a quick ratio of 0.62, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.25. The stock has a market cap of $46.69 billion, a PE ratio of 24.14, a P/E/G ratio of 3.49 and a beta of 0.57. The business has a 50 day moving average price of $276.44 and a 200 day moving average price of $276.00.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a net margin of 45.62% and a return on equity of 36.17%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.16 earnings per share. On average, analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Tuesday, March 12th. Public Storage’s dividend payout ratio (DPR) is 108.99%.

Analyst Ratings Changes

PSA has been the topic of several research analyst reports. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a report on Thursday, March 28th. Scotiabank increased their price objective on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. The Goldman Sachs Group lifted their target price on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Barclays started coverage on Public Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $330.00 price target on the stock. Finally, BMO Capital Markets lifted their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.00.

Public Storage Company 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.