Pacer Advisors Inc. Sells 5,768 Shares of Public Storage (NYSE:PSA)

Pacer Advisors Inc. decreased its holdings in Public Storage (NYSE:PSA) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,449 shares of the real estate investment trust’s stock after selling 5,768 shares during the quarter. Pacer Advisors Inc. owned about 0.07% of Public Storage worth $33,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Gryphon Financial Partners LLC boosted its position in shares of Public Storage by 2.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock worth $476,000 after purchasing an additional 38 shares in the last quarter. Signet Financial Management LLC raised its stake in Public Storage by 2.1% during the 1st quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after buying an additional 39 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Public Storage by 0.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock valued at $1,201,000 after acquiring an additional 39 shares during the period. Brookstone Capital Management boosted its holdings in shares of Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after buying an additional 40 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of Public Storage by 3.5% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the subject of a number of analyst reports. Jefferies Financial Group increased their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada started coverage on Public Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price objective on the stock. Barclays upped their price target on shares of Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective on the stock. in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $339.08.

Public Storage Trading Up 0.9 %

PSA opened at $361.72 on Friday. The business has a fifty day moving average price of $326.92 and a 200 day moving average price of $295.74. The stock has a market capitalization of $63.56 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 5.12 and a beta of 0.67. Public Storage has a 12 month low of $233.18 and a 12 month high of $366.29. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm had revenue of $921.70 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm posted $4.28 EPS. Public Storage’s quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts expect that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, September 13th. Public Storage’s dividend payout ratio is presently 108.99%.

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.