Public Storage $PSA Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its holdings in shares of Public Storage (NYSE:PSA) by 8.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,945 shares of the real estate investment trust’s stock after selling 6,407 shares during the period. Nisa Investment Advisors LLC’s holdings in Public Storage were worth $20,523,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PSA. Marshall & Sullivan Inc. WA acquired a new position in Public Storage in the second quarter worth about $25,000. Harbor Asset Planning Inc. acquired a new position in Public Storage in the second quarter worth about $25,000. Spectrum Wealth Counsel LLC acquired a new position in Public Storage in the first quarter worth about $30,000. Wayfinding Financial LLC acquired a new position in Public Storage in the first quarter worth about $41,000. Finally, Rossby Financial LCC acquired a new position in Public Storage in the first quarter worth about $45,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Public Storage from $324.00 to $321.00 and set an “overweight” rating for the company in a research note on Friday, September 12th. Wells Fargo & Company decreased their price target on Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays decreased their target price on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Finally, Evercore ISI lifted their target price on Public Storage from $312.00 to $317.00 and gave the company a “cautious” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average price target of $324.92.

Public Storage Stock Performance

PSA opened at $302.52 on Monday. The business’s 50 day moving average is $292.41 and its 200-day moving average is $292.87. The stock has a market cap of $53.08 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 4.93 and a beta of 0.89. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a twelve month low of $256.60 and a twelve month high of $355.87.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage’s payout ratio is 130.86%.

About Public Storage

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.