Heartland Advisors Inc. Has $21.02 Million Stake in Public Storage $PSA

Heartland Advisors Inc. lowered its holdings in shares of Public Storage (NYSE:PSA) by 8.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 80,993 shares of the real estate investment trust’s stock after selling 7,613 shares during the period. Public Storage accounts for approximately 1.1% of Heartland Advisors Inc.’s holdings, making the stock its 10th largest position. Heartland Advisors Inc.’s holdings in Public Storage were worth $21,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the third quarter worth about $27,000. Raiffeisen Bank International AG bought a new position in Public Storage during the third quarter worth about $30,000. Wealth Watch Advisors INC bought a new position in Public Storage during the third quarter worth about $34,000. Knuff & Co LLC bought a new position in Public Storage during the fourth quarter worth about $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Public Storage by 2,940.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 147 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.6%

NYSE PSA opened at $324.73 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79. The company has a 50 day moving average of $301.26 and a 200-day moving average of $288.11. The company has a market cap of $57.01 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 4.40 and a beta of 0.98.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $4.12 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities research analysts expect that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, June 15th. Public Storage’s payout ratio is presently 123.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PSA shares. Evercore boosted their price objective on Public Storage from $306.00 to $317.00 in a report on Monday. JPMorgan Chase & Co. reduced their price objective on Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Mizuho boosted their price objective on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. William Blair set a $305.00 price objective on Public Storage in a report on Monday, March 16th. Finally, Scotiabank boosted their price objective on Public Storage from $321.00 to $340.00 in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $316.67.

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.