Abich Financial Wealth Management LLC Sells 387 Shares of Public Storage (NYSE:PSA)

Abich Financial Wealth Management LLC lessened its stake in shares of Public Storage (NYSE:PSA) by 65.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 207 shares of the real estate investment trust’s stock after selling 387 shares during the period. Abich Financial Wealth Management LLC’s holdings in Public Storage were worth $75,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PSA. Brookstone Capital Management grew its holdings in Public Storage by 3.4% during the 1st quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 40 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Public Storage by 20.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 139,074 shares of the real estate investment trust’s stock worth $40,340,000 after buying an additional 23,531 shares during the period. Yoder Wealth Management Inc. bought a new stake in shares of Public Storage during the 1st quarter worth approximately $206,000. IVC Wealth Advisors LLC grew its position in Public Storage by 14.0% in the 1st quarter. IVC Wealth Advisors LLC now owns 1,313 shares of the real estate investment trust’s stock valued at $381,000 after acquiring an additional 161 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in Public Storage in the 1st quarter valued at about $1,548,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Down 0.6 %

Shares of PSA traded down $2.17 during trading on Tuesday, reaching $334.44. 67,190 shares of the company traded hands, compared to its average volume of 701,572. The stock has a 50-day simple moving average of $347.85 and a 200-day simple moving average of $307.66. The stock has a market cap of $58.53 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 4.74 and a beta of 0.68. Public Storage has a twelve month low of $233.18 and a twelve month high of $369.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). The firm had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $4.28 EPS. On average, analysts anticipate that Public Storage will post 16.73 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.46%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSA. Barclays raised their target price on shares of Public Storage from $374.00 to $381.00 and gave the company an “overweight” rating in a research report on Monday. Evercore ISI decreased their price target on shares of 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. Wells Fargo & Company increased their target price on shares of Public Storage from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Citigroup boosted their target price on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $341.43.

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.