Sit Investment Associates Inc. Decreases Stake in Public Storage $PSA

Sit Investment Associates Inc. lessened its holdings in Public Storage (NYSE:PSA) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,145 shares of the real estate investment trust’s stock after selling 2,020 shares during the period. Sit Investment Associates Inc.’s holdings in Public Storage were worth $5,487,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its position in shares of Public Storage by 13.3% during the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 373 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Public Storage in the 2nd quarter worth about $929,000. Nebula Research & Development LLC purchased a new position in shares of Public Storage in the 2nd quarter worth about $1,113,000. Treasurer of the State of North Carolina grew its position in Public Storage by 1.9% during the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock valued at $21,647,000 after buying an additional 1,390 shares during the period. Finally, Ieq Capital LLC grew its position in Public Storage by 219.8% during the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock valued at $14,140,000 after buying an additional 33,122 shares during the period. 78.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of the business’s 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 sale, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. The trade was a 40.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PSA shares. JPMorgan Chase & Co. lifted 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. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. William Blair set a $305.00 price target on shares of Public Storage in a research note on Monday, March 16th. Scotiabank lifted their price target on shares of Public Storage from $340.00 to $342.00 and gave the stock a “sector outperform” rating in a report on Thursday. Finally, Citigroup upped their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $323.53.

Public Storage Price Performance

PSA opened at $318.12 on Friday. The firm has a 50-day moving average price of $306.88 and a 200-day moving average price of $290.33. 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. The company has a market capitalization of $55.85 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 4.33 and a beta of 0.98.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping 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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm earned $4.12 EPS. Public Storage’s revenue for the quarter 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 expect that Public Storage will post 16.94 EPS for the current year.

Public Storage Announces Dividend

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

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.