Nathaniel Vitan Sells 950 Shares of Public Storage (NYSE:PSA) Stock

Public Storage (NYSE:PSA) insider Nathaniel Vitan sold 950 shares of Public Storage stock in a transaction on Friday, June 12th. The shares were 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 in the company, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Public Storage Stock Performance

NYSE:PSA opened at $312.37 on Thursday. The stock has a market cap of $54.84 billion, a P/E ratio of 32.24, a price-to-earnings-growth ratio of 4.36 and a beta of 0.98. The firm’s fifty day simple moving average is $305.55 and its 200 day simple moving average is $289.83. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79. 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) last released its quarterly 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 for 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 for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, research analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.8%. Public Storage’s payout ratio is 123.84%.

Hedge Funds Weigh In On Public Storage

Large investors have recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC raised its position in shares of Public Storage by 25.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock worth $4,829,000 after purchasing an additional 3,763 shares during the last quarter. Barclays PLC raised its position in shares of Public Storage by 93.8% in the 3rd quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust’s stock worth $174,165,000 after purchasing an additional 291,895 shares during the last quarter. Aster Capital Management DIFC Ltd raised its position in Public Storage by 777.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 2,605 shares of the real estate investment trust’s stock worth $752,000 after buying an additional 2,308 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Public Storage by 5.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock worth $118,576,000 after buying an additional 25,353 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Public Storage by 5.3% in the 4th quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock worth $63,838,000 after buying an additional 12,444 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSA shares. Mizuho raised their price objective on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Scotiabank raised their price objective on Public Storage from $321.00 to $340.00 in a research report on Monday, May 11th. William Blair set a $305.00 price objective on Public Storage in a research report on Monday, March 16th. UBS Group raised their price objective on Public Storage from $276.00 to $314.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Finally, BMO Capital Markets raised their price objective on Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $323.42.

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.