Trilogy Capital Inc. Has $3.23 Million Position in Public Storage (NYSE:PSA)

Trilogy Capital Inc. lowered its holdings in shares of Public Storage (NYSE:PSA) by 9.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,888 shares of the real estate investment trust’s stock after selling 909 shares during the period. Trilogy Capital Inc.’s holdings in Public Storage were worth $3,234,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Park Avenue Securities LLC boosted its stake in shares of Public Storage by 6.1% in the 1st quarter. Park Avenue Securities LLC now owns 3,193 shares of the real estate investment trust’s stock valued at $926,000 after purchasing an additional 184 shares during the last quarter. Global Assets Advisory LLC acquired a new position in Public Storage in the first quarter valued at approximately $7,319,000. Riverview Trust Co bought a new position in Public Storage in the first quarter valued at approximately $37,000. Mechanics Bank Trust Department grew its holdings in Public Storage by 9.8% during the 1st quarter. Mechanics Bank Trust Department now owns 1,502 shares of the real estate investment trust’s stock worth $436,000 after acquiring an additional 134 shares during the period. Finally, Fermata Advisors LLC acquired a new stake in Public Storage during the 1st quarter worth $235,000. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PSA shares. Evercore ISI lowered their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. 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 note on Friday, July 26th. Truist Financial lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a research note on Thursday, August 1st. Barclays increased their price objective on shares of Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada assumed 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 objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $337.00.

Public Storage Trading Up 0.1 %

Shares of PSA stock opened at $345.62 on Monday. 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 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. Public Storage has a twelve month low of $233.18 and a twelve month high of $369.99. The stock’s fifty day simple moving average is $345.72 and its 200 day simple moving average is $305.38.

Public Storage (NYSE:PSA) last issued 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 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. As a group, sell-side analysts predict that Public Storage will post 16.73 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $3.00 dividend. 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%.

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.