Public Storage (NYSE:PSA) Insider Nathaniel Vitan Sells 1,414 Shares of Stock

Public Storage (NYSE:PSA) insider Nathaniel Vitan sold 1,414 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Public Storage Stock Down 0.8%

Shares of NYSE:PSA traded down $2.73 during mid-day trading on Friday, hitting $325.99. 519,302 shares of the company traded hands, compared to its average volume of 1,247,623. The firm’s 50 day simple moving average is $322.15 and its 200 day simple moving average is $304.57. The firm has a market cap of $57.25 billion, a P/E ratio of 31.11, a PEG ratio of 3.87 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $4.28 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities analysts anticipate that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s payout ratio is 114.50%.

Institutional Trading of Public Storage

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake 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 valued at $6,576,534,000 after buying an additional 2,274,397 shares in the last quarter. BlackRock Inc. acquired a new position in Public Storage in the second quarter valued at approximately $5,495,077,000. Norges Bank acquired a new stake in shares of Public Storage during the 4th quarter worth approximately $1,163,751,000. Capital International Investors grew its stake in Public Storage by 821.4% during the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after buying an additional 3,686,211 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Public Storage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after purchasing an additional 66,445 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PSA shares. Royal Bank Of Canada upped their price objective on shares of Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. UBS Group boosted their price target on Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Truist Financial lifted their price objective on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Jefferies Financial Group upped their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $326.05.

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.