Ensign Peak Advisors Inc Cuts Stock Holdings in Public Storage (NYSE:PSA)

Ensign Peak Advisors Inc cut its holdings in shares of Public Storage (NYSE:PSA) by 9.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,067 shares of the real estate investment trust’s stock after selling 8,198 shares during the period. Ensign Peak Advisors Inc’s holdings in Public Storage were worth $22,168,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Gryphon Financial Partners LLC lifted its position in shares of Public Storage by 2.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 38 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Public Storage during the 4th quarter valued at $232,000. CreativeOne Wealth LLC acquired a new stake in shares of Public Storage in the 4th quarter worth $236,000. Assetmark Inc. grew its stake in Public Storage by 10.7% during the 4th quarter. Assetmark Inc. now owns 4,321 shares of the real estate investment trust’s stock worth $1,318,000 after buying an additional 419 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Public Storage by 107.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 44 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company boosted their price objective on shares of Public Storage from $310.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Bank of America lowered Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. Citigroup lifted their price target on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Evercore ISI increased their price objective on Public Storage from $334.00 to $343.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $339.08.

Public Storage Stock Up 0.9 %

Shares of PSA opened at $361.72 on Monday. The stock has a 50 day moving average price of $326.92 and a 200 day moving average price of $295.83. Public Storage has a one year low of $233.18 and a one year high of $366.29. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93 and a current ratio of 0.93. 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 (NYSE:PSA) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The business had revenue of $921.70 million during the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.28 EPS. Equities research analysts forecast that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.32%. Public Storage’s payout ratio is 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.