Trilogy Capital Inc. Sells 909 Shares of Public Storage (NYSE:PSA)

Trilogy Capital Inc. reduced its stake in Public Storage (NYSE:PSA) by 9.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,888 shares of the real estate investment trust’s stock after selling 909 shares during the quarter. Trilogy Capital Inc.’s holdings in Public Storage were worth $3,234,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PSA. Global Assets Advisory LLC purchased a new position in Public Storage in the first quarter valued at approximately $7,319,000. Centersquare Investment Management LLC raised its stake in shares of Public Storage by 17.2% in the first quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust’s stock valued at $343,573,000 after buying an additional 173,975 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Public Storage during the 2nd quarter valued at $14,301,000. PGGM Investments grew its stake in shares of Public Storage by 8.0% during the 2nd quarter. PGGM Investments now owns 167,431 shares of the real estate investment trust’s stock worth $48,162,000 after acquiring an additional 12,396 shares during the period. Finally, Swedbank AB purchased a new stake in Public Storage in the 1st quarter worth about $17,465,000. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PSA shares. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a report on Thursday, August 1st. Evercore ISI lowered their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Jefferies Financial Group upped their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company increased their target price on Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $337.00.

Public Storage Price Performance

Shares of NYSE PSA opened at $345.62 on Monday. The stock’s 50-day simple moving average is $345.72 and its two-hundred day simple moving average is $305.38. Public Storage has a twelve month low of $233.18 and a twelve month high of $369.99. The firm has a market capitalization of $60.73 billion, a P/E ratio of 31.39, a P/E/G ratio of 4.84 and a beta of 0.68. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last posted its quarterly earnings data 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 company 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 firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $4.28 earnings per share. As a group, equities analysts anticipate that Public Storage will post 16.73 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Friday, September 13th. Public Storage’s dividend payout ratio is currently 108.99%.

About Public Storage

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.