U.S. Capital Wealth Advisors LLC Sells 109 Shares of Public Storage (NYSE:PSA)

U.S. Capital Wealth Advisors LLC reduced its position in Public Storage (NYSE:PSA) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,887 shares of the real estate investment trust’s stock after selling 109 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Public Storage were worth $6,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Centersquare Investment Management LLC boosted its position in Public Storage by 17.2% in the first 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 last quarter. Manning & Napier Advisors LLC bought a new stake in Public Storage during the second quarter valued at approximately $14,301,000. PGGM Investments increased its holdings in Public Storage by 8.0% during the second quarter. PGGM Investments now owns 167,431 shares of the real estate investment trust’s stock valued at $48,162,000 after buying an additional 12,396 shares during the last quarter. Swedbank AB bought a new position in Public Storage in the first quarter worth approximately $17,465,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Public Storage by 15.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 20,566 shares of the real estate investment trust’s stock worth $5,916,000 after acquiring an additional 2,770 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

PSA traded up $4.31 during trading on Wednesday, hitting $339.23. 131,357 shares of the company traded hands, compared to its average volume of 705,561. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The company has a market cap of $59.37 billion, a PE ratio of 31.39, a P/E/G ratio of 4.87 and a beta of 0.68. The stock’s 50-day simple moving average is $346.44 and its two-hundred day simple moving average is $306.11. Public Storage has a 1 year low of $233.18 and a 1 year high of $369.99.

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 for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned $4.28 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Public Storage will post 16.73 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.54%. Public Storage’s dividend payout ratio (DPR) is 112.46%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PSA shares. Jefferies Financial Group upped their price objective on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Evercore ISI reduced their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Royal Bank of Canada started coverage on Public Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 price objective on the stock. Citigroup boosted their price objective on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price on the stock. in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $340.93.

Public Storage 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.