Great Lakes Advisors LLC Lowers Position in Public Storage $PSA

Great Lakes Advisors LLC lowered its holdings in Public Storage (NYSE:PSA) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 128,038 shares of the real estate investment trust’s stock after selling 5,706 shares during the quarter. Great Lakes Advisors LLC’s holdings in Public Storage were worth $33,227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Public Storage by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after acquiring an additional 2,274,397 shares in the last quarter. Norges Bank purchased a new stake in shares of Public Storage in the 4th quarter valued at about $1,163,751,000. Capital International Investors raised its holdings in shares of Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after acquiring an additional 3,686,211 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Public Storage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock valued at $1,056,976,000 after acquiring an additional 66,445 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Public Storage by 1.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,391,561 shares of the real estate investment trust’s stock valued at $880,110,000 after acquiring an additional 57,073 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Public Storage stock opened at $325.35 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $57.12 billion, a PE ratio of 33.58, a P/E/G ratio of 4.41 and a beta of 0.98. The firm has a fifty day simple moving average of $302.35 and a two-hundred day simple moving average of $288.50. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79.

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 for the quarter, topping the consensus estimate of $2.42 by $0.29. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Research analysts expect that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have weighed in on PSA shares. Barclays lowered their price target on Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price target on Public Storage from $295.00 to $291.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Evercore raised their price objective on Public Storage from $306.00 to $317.00 in a report on Monday. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Tuesday, April 21st. One investment 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 company’s stock. According to data from MarketBeat, Public Storage has an average rating of “Hold” and a consensus target price 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.