Montrusco Bolton Investments Inc. trimmed its position in Public Storage (NYSE:PSA – Free Report) by 18.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 518,306 shares of the real estate investment trust’s stock after selling 117,420 shares during the quarter. Public Storage makes up 2.1% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 21st largest position. Montrusco Bolton Investments Inc.’s holdings in Public Storage were worth $135,830,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the third quarter worth about $27,000. Bayban bought a new stake in Public Storage in the fourth quarter valued at approximately $26,000. Wealth Watch Advisors INC bought a new stake in Public Storage in the third quarter valued at approximately $34,000. Raiffeisen Bank International AG lifted its position in shares of 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 buying an additional 37 shares during the last quarter. Finally, Knuff & Co LLC acquired a new stake in shares of Public Storage in the fourth quarter valued at approximately $38,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
PSA has been the topic of a number of recent analyst reports. Truist Financial boosted their target price on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. UBS Group reaffirmed a “neutral” rating on shares of Public Storage in a research report on Monday, June 22nd. Scotiabank upped their price objective on shares of Public Storage from $340.00 to $342.00 and gave the company a “sector outperform” rating in a report on Thursday, June 18th. Finally, Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $324.68.
Public Storage Trading Down 0.1%
Shares of NYSE:PSA opened at $329.25 on Friday. Public Storage has a 12-month low of $256.54 and a 12-month high of $331.79. The stock has a market cap of $57.80 billion, a PE ratio of 33.98, a P/E/G ratio of 4.43 and a beta of 0.96. The business has a 50 day moving average of $310.97 and a 200-day moving average of $293.88. 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 (NYSE:PSA – Get Free Report) last announced its 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. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts forecast that Public Storage will post 16.94 earnings per share for the current year.
Public Storage Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.6%. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.
Insiders Place Their Bets
In other news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction 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 completion of the sale, the insider owned 1,414 shares of the company’s stock, 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 hyperlink. 11.10% of the stock is owned by insiders.
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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