Allspring Global Investments Holdings LLC Reduces Stock Position in Public Storage $PSA

Allspring Global Investments Holdings LLC trimmed its position in Public Storage (NYSE:PSA) by 75.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,366 shares of the real estate investment trust’s stock after selling 22,426 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Public Storage were worth $2,035,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bayban acquired a new position in Public Storage in the 4th quarter valued at $26,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage in the third quarter valued at $27,000. Wealth Watch Advisors INC acquired a new position in Public Storage in the third quarter valued at $34,000. Raiffeisen Bank International AG increased its stake in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 37 shares during the last quarter. Finally, Knuff & Co LLC purchased a new position in Public Storage during the fourth quarter worth about $38,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Scotiabank increased their price target on shares of Public Storage from $342.00 to $345.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Mizuho boosted their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. BMO Capital Markets upped their price objective on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $325.37.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider directly owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. This represents a 40.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Up 2.6%

NYSE PSA opened at $323.05 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. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79. The business has a 50 day moving average price of $315.35 and a two-hundred day moving average price of $299.87. The stock has a market cap of $56.71 billion, a PE ratio of 33.34, a P/E/G ratio of 4.34 and a beta of 0.96.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $2.42 by $0.29. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company’s revenue was down .1% compared to the same quarter last year. During the same quarter 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. As a group, sell-side analysts predict that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Announces Dividend

The company 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 was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.

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.