Andra AP fonden Sells 20,690 Shares of Public Storage $PSA

Andra AP fonden cut its holdings in shares of Public Storage (NYSE:PSA) by 47.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,630 shares of the real estate investment trust’s stock after selling 20,690 shares during the quarter. Andra AP fonden’s holdings in Public Storage were worth $6,130,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts recently weighed in on PSA shares. Scotiabank lifted their price target on Public Storage from $342.00 to $345.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Barclays reiterated an “equal weight” rating and set a $349.00 price objective on shares of Public Storage in a research report on Friday, July 10th. Raymond James Financial began coverage on Public Storage in a report on Thursday, July 16th. They set a “market perform” rating for the company. Truist Financial boosted their target price on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Citigroup upped their price target on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $325.37.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the company’s 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 transaction, the insider owned 1,414 shares of the company’s stock, valued at $459,281.34. This represents a 40.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is currently owned by insiders.

Public Storage Stock Performance

NYSE:PSA opened at $311.80 on Thursday. The stock has a fifty day moving average price of $314.47 and a 200-day moving average price of $299.30. The company has a market cap of $54.74 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 4.17 and a beta of 0.96. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The company 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%.Public Storage’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities analysts anticipate that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, June 15th. Public Storage’s 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.