LDR Capital Management LLC Has $2.11 Million Stake in Public Storage (NYSE:PSA)

LDR Capital Management LLC decreased its holdings in shares of Public Storage (NYSE:PSA) by 5.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,800 shares of the real estate investment trust’s stock after selling 323 shares during the period. Public Storage accounts for about 2.3% of LDR Capital Management LLC’s portfolio, making the stock its 17th biggest position. LDR Capital Management LLC’s holdings in Public Storage were worth $2,110,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PSA. Petredis Investment Advisors LLC boosted its stake in Public Storage by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after acquiring an additional 30 shares during the last quarter. Signet Financial Management LLC boosted its stake in Public Storage by 2.1% during the 1st quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock worth $555,000 after acquiring an additional 39 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Public Storage by 0.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock worth $1,201,000 after acquiring an additional 39 shares during the last quarter. Brookstone Capital Management boosted its stake 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 worth $354,000 after acquiring an additional 40 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in Public Storage by 3.5% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PSA. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective on the stock. in a research note on Monday, August 5th. Wolfe Research raised shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Scotiabank lifted their price target 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. Wells Fargo & Company lifted their price target on shares of Public Storage from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Citigroup lifted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $340.93.

Public Storage Stock Performance

Shares of PSA stock opened at $331.85 on Tuesday. The company’s fifty day simple moving average is $346.07 and its 200-day simple moving average is $305.74. 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 firm has a market cap of $58.08 billion, a PE ratio of 31.10, a P/E/G ratio of 4.87 and a beta of 0.68. Public Storage has a 12 month low of $233.18 and a 12 month high of $369.99.

Public Storage (NYSE:PSA) last announced 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 business had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.28 EPS. Equities research analysts expect that Public Storage will post 16.73 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.62%. Public Storage’s payout ratio is 112.46%.

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.