Bank of New York Mellon Corp Cuts Holdings in Public Storage $PSA

Bank of New York Mellon Corp lessened its holdings in Public Storage (NYSE:PSA) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,001,676 shares of the real estate investment trust’s stock after selling 5,363 shares during the period. Bank of New York Mellon Corp’s holdings in Public Storage were worth $271,334,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC grew its position in shares of Public Storage by 25.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock worth $4,829,000 after acquiring an additional 3,763 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Public Storage by 3.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock valued at $75,171,000 after buying an additional 9,618 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Public Storage by 5.3% in the 4th 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Public Storage by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock valued at $118,576,000 after buying an additional 25,353 shares during the period. Finally, Swiss Life Asset Management Ltd grew its stake in Public Storage by 16.0% in the third quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust’s stock valued at $9,950,000 after purchasing an additional 4,762 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Transactions at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider 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 the SEC website. 11.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PSA. BMO Capital Markets increased their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Royal Bank Of Canada raised their target price on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Evercore set a $316.00 price target on Public Storage in a research note on Monday, July 6th. Finally, Raymond James Financial started coverage on Public Storage in a research note on Thursday. They issued a “market perform” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $325.37.

Public Storage Price Performance

NYSE PSA opened at $318.33 on Friday. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $55.88 billion, a PE ratio of 32.85, a P/E/G ratio of 4.36 and a beta of 0.96. The stock has a 50-day simple moving average of $314.27 and a 200 day simple moving average of $297.92.

Public Storage (NYSE:PSA) last released its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $4.12 EPS. The company’s revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Research analysts anticipate that Public Storage will post 16.94 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. Public Storage’s dividend payout ratio is 123.84%.

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.