ABC Arbitrage SA Reduces Holdings in Public Storage $PSA

ABC Arbitrage SA reduced its position in Public Storage (NYSE:PSA) by 95.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 999 shares of the real estate investment trust’s stock after selling 20,905 shares during the quarter. ABC Arbitrage SA’s holdings in Public Storage were worth $271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its stake in Public Storage by 25.3% during the fourth 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 buying an additional 3,763 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Public Storage by 3.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after acquiring an additional 9,618 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Public Storage by 5.3% during 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 acquiring an additional 12,444 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Public Storage by 5.8% during 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 acquiring an additional 25,353 shares during the period. Finally, Swiss Life Asset Management Ltd boosted its position in shares of Public Storage by 16.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust’s stock valued at $9,950,000 after acquiring an additional 4,762 shares during the last quarter. Hedge funds and other institutional investors 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 company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the transaction, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSA. Jefferies Financial Group upped their price objective on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Evercore set a $316.00 target price on shares of Public Storage in a report on Monday, July 6th. Truist Financial increased their price target on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Finally, UBS Group raised their price target on shares of Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $325.37.

Public Storage Stock Performance

NYSE PSA opened at $319.55 on Wednesday. The stock has a fifty day simple moving average of $313.72 and a 200-day simple moving average of $296.96. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The stock has a market cap of $56.10 billion, a PE ratio of 32.98, a P/E/G ratio of 4.33 and a beta of 0.96. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the firm earned $4.12 EPS. Public Storage’s revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities analysts anticipate that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $3.00 dividend. 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 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.