Public Storage $PSA Shares Sold by CI Investments Inc.

CI Investments Inc. decreased its position in Public Storage (NYSE:PSA) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,870 shares of the real estate investment trust’s stock after selling 2,737 shares during the quarter. CI Investments Inc. owned 0.07% of Public Storage worth $33,825,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the third quarter worth about $27,000. Bayban bought a new position in shares of Public Storage during the fourth quarter worth about $26,000. Wealth Watch Advisors INC bought a new stake in Public Storage in the 3rd quarter valued at about $34,000. Raiffeisen Bank International AG raised its holdings in shares of Public Storage by 35.2% during the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 37 shares during the last quarter. Finally, Knuff & Co LLC bought a new position in Public Storage in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $311.80 on Thursday. Public Storage has a one year low of $256.54 and a one year high of $331.79. The company has a 50-day moving average of $314.47 and a two-hundred day moving average of $299.30. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $54.74 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 4.17 and a beta of 0.96.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share 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 business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $4.12 earnings per share. Public Storage’s revenue for the quarter was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities research analysts expect that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Announces Dividend

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

Analyst Ratings Changes

PSA has been the subject of a number of analyst reports. Scotiabank boosted their price target on Public Storage from $342.00 to $345.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. BMO Capital Markets upped their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. JPMorgan Chase & Co. raised their target price on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. UBS Group upped their target price on Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Finally, Raymond James Financial started coverage on Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating for the company. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and an average price target of $325.37.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction dated Friday, June 12th. The stock was 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 of the company’s stock, valued at approximately $459,281.34. This represents a 40.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 11.10% of the stock is currently owned by company insiders.

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.