Sit Investment Associates Inc. Sells 2,020 Shares of Public Storage $PSA

Sit Investment Associates Inc. cut its position in Public Storage (NYSE:PSA) by 8.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,145 shares of the real estate investment trust’s stock after selling 2,020 shares during the quarter. Sit Investment Associates Inc.’s holdings in Public Storage were worth $5,487,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Public Storage in the fourth quarter worth $1,163,751,000. Capital International Investors boosted its stake in Public Storage by 821.4% during the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after buying an additional 3,686,211 shares during the period. Vanguard Group Inc. grew its position in Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after buying an additional 2,274,397 shares in the last quarter. First Trust Advisors LP grew its position in Public Storage by 287.7% during the fourth quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock worth $187,252,000 after buying an additional 535,465 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Public Storage by 498.7% in the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after acquiring an additional 481,872 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 950 shares of the 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSA. Citigroup raised their price target on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho boosted their price objective on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. upped their price objective on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Barclays lowered their target price on shares of Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Jefferies Financial Group lifted their target price on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and a consensus price target of $323.53.

Public Storage Price Performance

Shares of Public Storage stock opened at $318.12 on Friday. 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 firm has a market capitalization of $55.85 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 4.33 and a beta of 0.98. The business’s 50-day moving average price is $306.88 and its 200-day moving average price is $290.33. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79.

Public Storage (NYSE:PSA) last released 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 during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.Public Storage’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Sell-side analysts forecast that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Announces Dividend

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

Public Storage Company 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.