Doliver Advisors LP Sells 273 Shares of Public Storage (NYSE:PSA)

Doliver Advisors LP trimmed its holdings in shares of Public Storage (NYSE:PSA) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,410 shares of the real estate investment trust’s stock after selling 273 shares during the quarter. Doliver Advisors LP’s holdings in Public Storage were worth $513,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Public Storage by 1.0% in the first quarter. Vanguard Group Inc. now owns 20,946,291 shares of the real estate investment trust’s stock valued at $6,075,681,000 after acquiring an additional 217,487 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Public Storage by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after purchasing an additional 219,391 shares during the period. APG Asset Management US Inc. increased its position in Public Storage by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock valued at $623,485,000 after purchasing an additional 100,000 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Public Storage by 8.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust’s stock valued at $343,968,000 after purchasing an additional 95,080 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock worth $343,573,000 after purchasing an additional 173,975 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 1.3 %

Shares of PSA stock opened at $355.30 on Thursday. Public Storage has a twelve month low of $233.18 and a twelve month high of $369.99. The stock has a market cap of $62.18 billion, a P/E ratio of 32.27, a P/E/G ratio of 5.02 and a beta of 0.67. The stock has a 50 day moving average of $335.99 and a 200 day moving average of $299.85. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The firm had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $4.28 earnings per share. As a group, sell-side analysts expect that Public Storage will post 16.75 EPS for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.38%. Public Storage’s dividend payout ratio is currently 108.99%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PSA shares. Morgan Stanley raised their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wolfe Research raised Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Truist Financial cut Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a research report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Barclays raised their price objective on Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price of $337.36.

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.