Vanderbilt University cut its position in shares of Public Storage (NYSE:PSA – Free Report) by 25.6% in the first quarter, Holdings Channel reports. The institutional investor owned 7,857 shares of the real estate investment trust’s stock after selling 2,702 shares during the period. Vanderbilt University’s holdings in Public Storage were worth $2,128,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PSA. Norges Bank bought a new stake in Public Storage in the 4th quarter valued at 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 worth $1,073,032,000 after acquiring an additional 3,686,211 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Public Storage by 9.9% in the fourth 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 purchasing an additional 2,274,397 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Public Storage by 287.7% in the fourth quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock valued at $187,252,000 after purchasing an additional 535,465 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Public Storage by 498.7% in the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after purchasing an additional 481,872 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.
Insider Activity at Public Storage
In other news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider directly owned 1,414 shares in the company, valued at $459,281.34. The trade was a 40.19% decrease in their position. The transaction 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 company insiders.
Public Storage Trading Down 1.0%
Public Storage (NYSE:PSA – Get Free Report) last released its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations 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 was down .1% on a year-over-year basis. During the same period last year, the business earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities research analysts predict that Public Storage will post 16.94 earnings per share for the current fiscal year.
Public Storage Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. Public Storage’s dividend payout ratio (DPR) is currently 123.84%.
Wall Street Analysts Forecast Growth
PSA has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. BNP Paribas Exane lifted their price target on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Mizuho boosted their price target on shares of Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. BMO Capital Markets increased their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Finally, Royal Bank Of Canada increased their price objective on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Public Storage presently has an average rating of “Hold” and a consensus price target of $324.68.
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.
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