Public Stock (NYSE:PSA) position was decreased by Sompo Asset Management Co . Ltd.

Sompo Asset Management Co. Ltd. lessened its holdings in shares of Public Storage (NYSE:PSA – Free Report) by 37.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,580 shares of the real estate investment trust’s stock after selling 1,570 shares during the period. The holdings of Sompo Asset Management Co. Ltd.’s holdings in Public Storage were worth $742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PSA. Summit Trail Advisors LLC boosted its holdings in shares of Public Storage by 20.7% in the second quarter. Summit Trail Advisors LLC now owns 1,343 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 230 shares in the last quarter. Chesapeake Wealth Management boosted its holdings in shares of Public Storage by 8.0% in the second quarter. Chesapeake Wealth Management now owns 1,505 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 111 shares during the period. Sei Investments Co. raised its position in shares of Public Storage by 1.6% in the second quarter. Sei Investments Co. now owns 274,471 shares of the real estate investment trust’s stock worth $78,952,000 after acquiring an additional 4,204 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Public Storage by 7.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 33,085 shares of the real estate investment trust’s stock worth $9,517,000 after acquiring an additional 2,248 shares during the period. Finally, AE Wealth Management LLC lifted its position in Public Storage by 28.2% in the 2nd quarter. AE Wealth Management LLC now owns 3,065 shares of the real estate investment trust’s stock, valued at $882,000 after bought an additional 675 shares in the last quarter. Institutional investors own 78.79% of the company’s shares.

Analyst upgrades and downgrades

Several research firms have commented on PSA. Royal Bank of Canada initiated coverage on shares of Public Storage in a research report on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 price target for the company. Wells Fargo & Company boosted their price objective on Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI lifted their price target on Public Storage from $334.00 to $343.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Citigroup boosted their price target 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, Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and an average target price of $332.71, based on data from MarketBeat.com.

Check out our latest report on public storage

Public storage trading up 0.9%

NYSE PSA opened at $361.72 on Friday. The company’s 50-day moving average price is $326.92, and its two-hundred-day moving average price is $295.63. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.93, and a current ratio of 0.93. Public Storage has a twelve month low of $233.18 and a twelve month high of $366.29. The stock has a market cap of $63.56 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 5.12 and a beta of 0.67.

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

The public depository announces dividends

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $3.00 dividend. This represents a dividend of $12.00 on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, September 13. Public Storage’s dividend payout ratio (DPR) is 108.99%.

Public Storage Company Profile

(Free Report)

Public Storage, a member of the S&P 500 and the FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. As of 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 interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage units located in seven countries in Western Europe with approximately 15 million net leasable square meters, operated under the Shurgard brand.

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