Public Storage $PSA Shares Sold by ING Groep NV

ING Groep NV cut its stake in shares of Public Storage (NYSE:PSA) by 72.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,908 shares of the real estate investment trust’s stock after selling 7,506 shares during the period. ING Groep NV’s holdings in Public Storage were worth $755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of Public Storage in the third quarter valued at about $27,000. Raiffeisen Bank International AG acquired a new position in shares of Public Storage during the 3rd quarter worth about $30,000. Wealth Watch Advisors INC acquired a new position in shares of Public Storage during the 3rd quarter worth about $34,000. Knuff & Co LLC purchased a new position in Public Storage in the 4th quarter valued at about $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Public Storage by 2,940.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 147 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Up 0.6%

PSA opened at $324.73 on Thursday. The firm has a market capitalization of $57.01 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 4.40 and a beta of 0.98. The company’s 50 day simple moving average is $301.26 and its two-hundred day simple moving average is $288.11. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56.

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

Public Storage Announces Dividend

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

Wall Street Analyst Weigh In

PSA has been the subject of several research reports. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Jefferies Financial Group raised their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. William Blair set a $305.00 price target on Public Storage in a research note on Monday, March 16th. BMO Capital Markets reiterated a “market perform” rating on shares of Public Storage in a research report on Monday, March 16th. Finally, Scotiabank increased their price objective on Public Storage from $321.00 to $340.00 in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Public Storage presently has a consensus rating of “Hold” and an average target price of $316.67.

Public Storage Company 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.