Trust Co. of Vermont Lowers Stake in Public Storage (NYSE:PSA)

Trust Co. of Vermont cut its position in Public Storage (NYSE:PSA) by 16.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 921 shares of the real estate investment trust’s stock after selling 185 shares during the period. Trust Co. of Vermont’s holdings in Public Storage were worth $265,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PSA. Gryphon Financial Partners LLC increased its position in Public Storage by 2.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 38 shares in the last quarter. Signet Financial Management LLC boosted its stake in shares of Public Storage by 2.1% in the first quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock worth $555,000 after acquiring an additional 39 shares during the period. Brookstone Capital Management lifted its holdings in shares of Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after buying an additional 40 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in shares of Public Storage by 3.5% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $357,000 after purchasing an additional 42 shares during the last quarter. Finally, Bangor Savings Bank grew its holdings in Public Storage by 0.8% during the 1st quarter. Bangor Savings Bank now owns 5,359 shares of the real estate investment trust’s stock valued at $1,554,000 after buying an additional 43 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 400 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $274.29, for a total transaction of $109,716.00. Following the sale, the insider now owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Nathaniel A. Vitan sold 400 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the sale, the insider now directly owns 3,214 shares in the company, valued at $881,568.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristy Pipes bought 2,149 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the transaction, the director now directly owns 2,149 shares in the company, valued at $599,485.04. The disclosure for this purchase can be found here. 11.00% of the stock is owned by corporate insiders.

Public Storage Stock Up 0.8 %

PSA stock traded up $2.36 on Wednesday, hitting $315.00. 309,727 shares of the company’s stock were exchanged, compared to its average volume of 720,357. The firm has a 50 day moving average price of $290.44 and a two-hundred day moving average price of $282.97. Public Storage has a 12-month low of $233.18 and a 12-month high of $316.98. The stock has a market cap of $55.35 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 4.57 and a beta of 0.65. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.54 and a current ratio of 0.93.

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 (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). The company 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 business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $4.28 EPS. As a group, equities research analysts expect that Public Storage will post 16.77 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, September 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.81%. Public Storage’s payout ratio is 108.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Evercore ISI upped their price target on shares of Public Storage from $289.00 to $300.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research report on Monday. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target for the company. in a report on Thursday, August 1st. Barclays dropped their price objective on Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. Finally, Scotiabank lifted their target price on Public Storage from $289.00 to $314.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $310.42.

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.