Public Storage $PSA Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC trimmed its holdings in shares of Public Storage (NYSE:PSA) by 21.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,300 shares of the real estate investment trust’s stock after selling 2,846 shares during the period. Merit Financial Group LLC’s holdings in Public Storage were worth $2,975,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PSA. Whitener Capital Management Inc. lifted its position in shares of Public Storage by 2.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock valued at $472,000 after acquiring an additional 36 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Public Storage by 9.5% during the second quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 36 shares during the period. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of Public Storage by 3.5% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 36 shares during the last quarter. Mather Group LLC. lifted its holdings in shares of Public Storage by 4.6% during the second quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 38 shares during the last quarter. Finally, Evermay Wealth Management LLC boosted its position in shares of Public Storage by 13.3% in the 2nd quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 38 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

NYSE PSA opened at $258.50 on Friday. 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 $45.36 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 5.39 and a beta of 1.01. The company has a 50 day simple moving average of $271.31 and a 200-day simple moving average of $283.64. Public Storage has a 52-week low of $256.60 and a 52-week high of $322.49.

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

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders 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 dividend yield of 4.6%. Public Storage’s dividend payout ratio is 124.61%.

Analyst Ratings Changes

PSA has been the topic of several recent analyst reports. Mizuho cut their price objective on Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Evercore ISI dropped their target price on shares of Public Storage from $315.00 to $309.00 and set an “in-line” rating on the stock in a research report on Monday, December 1st. UBS Group cut their price target on shares of Public Storage from $295.00 to $293.00 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target for the company in a research report on Monday, October 13th. Finally, BNP Paribas Exane lowered their price objective on shares of Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $317.80.

Public Storage Profile

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.