Public Storage $PSA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Public Storage (NYSE:PSA) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 840,435 shares of the real estate investment trust’s stock after selling 15,857 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Public Storage were worth $227,657,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Public Storage during the fourth quarter worth approximately $1,163,751,000. Capital International Investors grew its stake in shares of Public Storage by 821.4% during 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 buying an additional 3,686,211 shares during the period. Vanguard Group Inc. grew its stake in shares of Public Storage by 9.9% during 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 buying an additional 2,274,397 shares during the period. First Trust Advisors LP grew its stake in shares of Public Storage by 287.7% during the 4th quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock valued at $187,252,000 after buying an additional 535,465 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after buying an additional 481,872 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of several research reports. Citigroup increased their target price on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. upped their price target on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $341.00 target price on shares of Public Storage in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Public Storage has a consensus rating of “Hold” and an average target price of $324.74.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is owned by insiders.

Public Storage Stock Performance

NYSE:PSA opened at $319.15 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $56.03 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 4.31 and a beta of 0.96. The firm’s fifty day simple moving average is $312.38 and its 200 day simple moving average is $295.69. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping 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 firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company earned $4.12 EPS. The firm’s revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts expect that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. Public Storage’s dividend payout ratio is presently 123.84%.

About Public Storage

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.