Laurion Capital Management LP Sells 25,028 Shares of Public Storage (NYSE:PSA)

Laurion Capital Management LP decreased its position in Public Storage (NYSE:PSA) by 96.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 874 shares of the real estate investment trust’s stock after selling 25,028 shares during the quarter. Laurion Capital Management LP’s holdings in Public Storage were worth $262,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC grew its stake in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Public Storage in the 4th quarter worth $32,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage in the 4th quarter worth $38,000. Millstone Evans Group LLC bought a new stake in shares of Public Storage in the 4th quarter worth $38,000. Finally, Parvin Asset Management LLC bought a new stake in shares of Public Storage in the 4th quarter worth $38,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 1.1%

PSA opened at $303.93 on Monday. The company has a 50 day moving average of $294.18 and a 200 day moving average of $306.45. The company has a market cap of $53.32 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 4.91 and a beta of 0.91. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, topping the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm earned $4.03 EPS. Public Storage’s revenue for the quarter was up .1% on a year-over-year basis. On average, sell-side analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, June 12th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, June 12th. Public Storage’s payout ratio is 119.17%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada dropped their target price on shares of Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Barclays reissued an “overweight” rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Evercore ISI increased their target price on shares of Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a research report on Friday, May 2nd. Finally, Bank of America raised shares of Public Storage from a “neutral” rating to a “buy” rating and increased their target price for the company from $349.00 to $368.00 in a research report on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $333.75.

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.