SG Americas Securities LLC Acquires 4,243 Shares of Public Storage $PSA

SG Americas Securities LLC lifted its stake in Public Storage (NYSE:PSA) by 76.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,765 shares of the real estate investment trust’s stock after acquiring an additional 4,243 shares during the period. SG Americas Securities LLC’s holdings in Public Storage were worth $2,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. HB Wealth Management LLC increased its stake in Public Storage by 9.1% in the 3rd quarter. HB Wealth Management LLC now owns 4,001 shares of the real estate investment trust’s stock worth $1,156,000 after buying an additional 334 shares in the last quarter. Caldwell Trust Co lifted its position in shares of Public Storage by 420.0% in the third quarter. Caldwell Trust Co now owns 260 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 210 shares in the last quarter. CX Institutional boosted its stake in shares of Public Storage by 41.9% in the third quarter. CX Institutional now owns 2,084 shares of the real estate investment trust’s stock worth $602,000 after acquiring an additional 615 shares during the period. Childress Capital Advisors LLC purchased a new stake in shares of Public Storage during the third quarter worth about $267,000. Finally, Absher Wealth Management LLC bought a new stake in Public Storage during the 3rd quarter valued at approximately $802,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

Public Storage stock opened at $279.29 on Tuesday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market capitalization of $49.00 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 5.83 and a beta of 1.01. Public Storage has a 1-year low of $256.54 and a 1-year high of $322.49. The company’s 50-day moving average is $269.34 and its 200 day moving average is $282.64.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Research analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.3%. Public Storage’s payout ratio is 124.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial cut their price objective on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research report on Monday, October 13th. Mizuho reduced their price target on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Royal Bank Of Canada decreased their price target on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research note on Friday, October 31st. Finally, UBS Group cut their price objective on Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $316.67.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.