Wellington Management Group LLP Sells 123,868 Shares of Public Storage $PSA

Wellington Management Group LLP lessened its position in shares of Public Storage (NYSE:PSA) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,329,880 shares of the real estate investment trust’s stock after selling 123,868 shares during the period. Wellington Management Group LLP owned 0.76% of Public Storage worth $423,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its holdings in Public Storage by 25.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after acquiring an additional 3,763 shares during the period. Hsbc Holdings PLC bought a new position in shares of Public Storage in the second quarter worth $195,808,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Public Storage by 3.4% in the fourth 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 period. Principal Financial Group Inc. grew its position in shares of Public Storage by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock valued at $63,838,000 after purchasing an additional 12,444 shares in the last quarter. Finally, Globeflex Capital L P purchased a new position in shares of Public Storage in the second quarter valued at $3,689,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PSA shares. Evercore set a $316.00 price objective on Public Storage in a report on Monday, July 6th. Mizuho upped their price target on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Barclays boosted their price target on shares of Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Citigroup upped their price target on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. increased their price objective on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $326.16.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.10% of the stock is currently owned by company insiders.

Public Storage Price Performance

Shares of NYSE:PSA opened at $313.65 on Friday. The company’s fifty day moving average price is $322.34 and its 200-day moving average price is $307.48. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $55.08 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.69 and a beta of 0.96. Public Storage has a one year low of $256.54 and a one year 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, topping 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 during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $4.28 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities research analysts anticipate that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. Public Storage’s dividend payout ratio (DPR) 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.