Bbjs Financial Advisors LLC Has $291,000 Holdings in Public Storage (NYSE:PSA)

Bbjs Financial Advisors LLC cut its position in Public Storage (NYSE:PSA) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 799 shares of the real estate investment trust’s stock after selling 30 shares during the quarter. Bbjs Financial Advisors LLC’s holdings in Public Storage were worth $291,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Swedbank AB lifted its holdings in Public Storage by 31.9% during the 3rd quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock worth $56,097,000 after buying an additional 37,285 shares during the period. NBC Securities Inc. lifted its stake in shares of Public Storage by 51.3% in the 3rd quarter. NBC Securities Inc. now owns 422 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 143 shares during the period. Creative Planning boosted its position in shares of Public Storage by 13.1% during the 3rd quarter. Creative Planning now owns 21,985 shares of the real estate investment trust’s stock valued at $8,000,000 after purchasing an additional 2,550 shares in the last quarter. CX Institutional grew its stake in Public Storage by 6.9% during the third quarter. CX Institutional now owns 790 shares of the real estate investment trust’s stock worth $287,000 after purchasing an additional 51 shares during the period. Finally, Rise Advisors LLC increased its holdings in Public Storage by 3.4% in the third quarter. Rise Advisors LLC now owns 1,275 shares of the real estate investment trust’s stock worth $464,000 after purchasing an additional 42 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of PSA traded up $3.19 during trading hours on Tuesday, hitting $346.91. The company’s stock had a trading volume of 313,877 shares, compared to its average volume of 710,498. The company has a market cap of $60.72 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 4.82 and a beta of 0.68. The business has a 50 day simple moving average of $343.10 and a two-hundred day simple moving average of $303.67. Public Storage has a 52-week low of $233.18 and a 52-week high of $369.99. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93.

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

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.46%. Public Storage’s dividend payout ratio (DPR) is 112.46%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSA. Scotiabank lifted their price objective on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Royal Bank of Canada began coverage on Public Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 target price on the stock. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Citigroup boosted their price objective on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Jefferies Financial Group raised their target price on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $337.00.

Public Storage Company 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.