Clarius Group LLC Has $728,000 Position in Public Storage (NYSE:PSA)

Clarius Group LLC lessened its stake in Public Storage (NYSE:PSA) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,007 shares of the real estate investment trust’s stock after selling 30 shares during the period. Clarius Group LLC’s holdings in Public Storage were worth $728,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Public Storage in the 2nd quarter valued at about $32,000. Opal Wealth Advisors LLC bought a new position in Public Storage in the second quarter worth approximately $36,000. Riverview Trust Co bought a new position in Public Storage in the first quarter worth approximately $37,000. Crewe Advisors LLC bought a new position in Public Storage in the first quarter worth approximately $39,000. Finally, EdgeRock Capital LLC bought a new position in Public Storage in the second quarter worth approximately $39,000. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective for the company. in a research note on Thursday, August 1st. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target for the company. in a research report on Monday, August 5th. Morgan Stanley increased their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Evercore ISI increased their price target on Public Storage from $334.00 to $343.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Scotiabank increased their price objective on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and a consensus price target of $337.36.

Public Storage Trading Up 0.2 %

NYSE PSA opened at $342.77 on Friday. The stock’s 50-day simple moving average is $342.30 and its two-hundred day simple moving average is $302.99. 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. The company has a market capitalization of $60.23 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 4.90 and a beta of 0.68.

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

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $3.00 dividend. The ex-dividend date was Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.50%. Public Storage’s dividend payout ratio is currently 108.99%.

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.