Los Angeles Capital Management LLC cut its stake in Public Storage (NYSE:PSA – Free Report) by 73.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 15,692 shares of the real estate investment trust’s stock after selling 42,794 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Public Storage were worth $4,407,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in PSA. Harvest Fund Management Co. Ltd acquired a new position in Public Storage in the third quarter valued at approximately $27,000. Raiffeisen Bank International AG acquired a new position in Public Storage in the third quarter valued at approximately $30,000. Wealth Watch Advisors INC acquired a new position in Public Storage in the third quarter valued at approximately $34,000. Knuff & Co LLC acquired a new position in Public Storage in the fourth quarter valued at approximately $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Public Storage by 2,940.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 147 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on PSA shares. Scotiabank upped their price objective on Public Storage from $321.00 to $340.00 in a report on Monday, May 11th. Jefferies Financial Group upped their price objective on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Barclays decreased their price objective on Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Royal Bank Of Canada upped their price objective on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and a consensus price target of $316.67.
Public Storage Stock Up 0.5%
Shares of NYSE PSA opened at $311.26 on Tuesday. The stock has a market cap of $54.64 billion, a P/E ratio of 32.12, a PEG ratio of 4.22 and a beta of 0.98. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 12-month low of $256.54 and a 12-month high of $313.51. The business’s fifty day simple moving average is $298.94 and its 200-day simple moving average is $287.29.
Public Storage (NYSE:PSA – Get Free Report) last posted its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company posted $4.12 earnings per share. Public Storage’s revenue for the quarter was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities analysts predict that Public Storage will post 16.92 EPS for the current fiscal year.
Public Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.
About Public Storage
Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.
The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.
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