UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 11,526 Shares of Public Storage $PSA

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Public Storage (NYSE:PSA) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,623,950 shares of the real estate investment trust’s stock after selling 11,526 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Public Storage were worth $516,920,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Public Storage in the 2nd quarter valued at $5,495,077,000. Norges Bank acquired a new position in shares of Public Storage during the fourth quarter valued at $1,163,751,000. Capital International Investors boosted its holdings in Public Storage by 821.4% in 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 acquiring an additional 3,686,211 shares during the last quarter. Legal & General Group Plc bought a new position in Public Storage in the second quarter valued at about $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Public Storage in the second quarter worth about $558,904,000. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSA. BNP Paribas Exane boosted their price objective on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Truist Financial lifted their price target on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Citigroup boosted their price target on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Jefferies Financial Group increased 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. Finally, Scotiabank lifted their target price on shares of Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Public Storage has a consensus rating of “Hold” and an average price target of $326.16.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on 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 SEC, which is available through the SEC website. Insiders own 11.10% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $313.65 on Monday. The stock has a market cap of $55.08 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 3.69 and a beta of 0.96. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. The stock’s 50-day moving average price is $322.34 and its two-hundred day moving average price is $307.61. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06.

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

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is presently 114.50%.

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.