Public Storage $PSA Stock: Sumitomo Mitsui Trust Group Inc. Increases Position

Sumitomo Mitsui Trust Group Inc. grew its stake in Public Storage (NYSE:PSA) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 817,245 shares of the real estate investment trust’s stock after purchasing an additional 11,074 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.47% of Public Storage worth $231,150,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PSA. V Square Quantitative Management LLC increased its stake in Public Storage by 2.2% in the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 34 shares during the period. Nilsine Partners LLC raised its holdings in Public Storage by 2.9% during the second quarter. Nilsine Partners LLC now owns 1,211 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 34 shares in the last quarter. Aegis Wealth Management Inc. raised its holdings in Public Storage by 2.5% during the third quarter. Aegis Wealth Management Inc. now owns 1,375 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 34 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in Public Storage by 2.6% during the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 36 shares in the last quarter. Finally, Chesapeake Capital Corp IL lifted its position in Public Storage by 1.3% in the second quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.1%

Shares of PSA stock opened at $324.95 on Monday. The firm has a 50-day moving average price of $298.85 and a 200 day moving average price of $302.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $60.71 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 4.84 and a beta of 0.89. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55.

Public Storage (NYSE:PSA) last released its earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Public Storage had a net margin of 37.76% and a return on equity of 29.93%. Public Storage’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.31 earnings per share. Research analysts forecast that Public Storage will post 16.96 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 125.65%.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PSA. Barclays lifted their price objective on Public Storage from $350.00 to $351.00 and gave the company an “equal weight” rating in a report on Thursday, September 10th. Truist Financial assumed coverage on Public Storage in a research note on Friday, October 2nd. They issued a “buy” rating and a $317.00 price target on the stock. Raymond James Financial began coverage on Public Storage in a report on Thursday, July 16th. They set a “market perform” rating on the stock. Wall Street Zen cut Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings downgraded Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, Public Storage currently has a consensus rating of “Hold” and an average price target of $323.68.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.