Slow Capital Inc. Sells 174 Shares of Public Storage (NYSE:PSA)

Slow Capital Inc. lowered its stake in shares of Public Storage (NYSE:PSA) by 19.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 740 shares of the real estate investment trust’s stock after selling 174 shares during the period. Slow Capital Inc.’s holdings in Public Storage were worth $226,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PSA. Everence Capital Management Inc. increased its holdings in Public Storage by 27.2% in the 4th quarter. Everence Capital Management Inc. now owns 5,990 shares of the real estate investment trust’s stock worth $1,827,000 after acquiring an additional 1,280 shares during the last quarter. Signet Financial Management LLC grew its stake in Public Storage by 3.8% in the 4th quarter. Signet Financial Management LLC now owns 1,874 shares of the real estate investment trust’s stock worth $572,000 after buying an additional 69 shares in the last quarter. SVB Wealth LLC purchased a new position in Public Storage in the fourth quarter worth $245,000. Flputnam Investment Management Co. increased its position in shares of Public Storage by 4.2% during the 4th quarter. Flputnam Investment Management Co. now owns 77,991 shares of the real estate investment trust’s stock valued at $23,787,000 after purchasing an additional 3,116 shares during the last quarter. Finally, Private Client Services LLC bought a new position in Public Storage during the fourth quarter valued at approximately $700,000. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Barclays assumed coverage on Public Storage in a research note on Wednesday, March 27th. They issued an “overweight” rating and a $330.00 target price for the company. The Goldman Sachs Group raised their price target on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Truist Financial increased their price objective on Public Storage from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. Finally, Scotiabank lifted their target price on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.00.

Public Storage Stock Performance

Shares of PSA stock opened at $261.67 on Thursday. The firm has a market capitalization of $45.97 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 3.44 and a beta of 0.54. The stock has a fifty day moving average of $281.73 and a 200 day moving average of $276.46. Public Storage has a 52 week low of $233.18 and a 52 week high of $312.25. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58.

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

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date was Tuesday, March 12th. Public Storage’s payout ratio is presently 108.50%.

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.