Herold Advisors Inc. Sells 205 Shares of Public Storage (NYSE:PSA)

Herold Advisors Inc. lowered its position in shares of Public Storage (NYSE:PSA) by 22.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 705 shares of the real estate investment trust’s stock after selling 205 shares during the period. Herold Advisors Inc.’s holdings in Public Storage were worth $215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its holdings in shares of Public Storage by 3.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock valued at $347,000 after purchasing an additional 35 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Public Storage by 4.1% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,097 shares of the real estate investment trust’s stock valued at $289,000 after acquiring an additional 43 shares during the period. Wealth Alliance raised its position in shares of Public Storage by 5.3% in the 3rd quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock worth $223,000 after acquiring an additional 43 shares in the last quarter. RB Capital Management LLC lifted its stake in shares of Public Storage by 1.1% during the 3rd quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock worth $1,048,000 after purchasing an additional 43 shares during the last quarter. Finally, Aspire Private Capital LLC boosted its position in Public Storage by 44.0% during the third quarter. Aspire Private Capital LLC now owns 144 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 44 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $280.00 to $310.00 in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Public Storage in a report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target on the stock. BMO Capital Markets increased their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Truist Financial boosted their target price on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th. Finally, Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target for the company in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $305.00.

Public Storage Stock Performance

Shares of Public Storage stock traded down $0.95 on Friday, reaching $257.73. 576,484 shares of the stock were exchanged, compared to its average volume of 720,981. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25. The business has a 50 day moving average price of $278.68 and a two-hundred day moving average price of $276.31. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $45.28 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 3.44 and a beta of 0.54.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company earned $4.16 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Analysts anticipate that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a dividend of $3.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.66%. Public Storage’s payout ratio is currently 108.50%.

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.