Public Storage (NYSE:PSA) Insider Sells $463,127.42 in Stock

Public Storage (NYSE:PSA) insider Nathaniel Vitan sold 1,414 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Public Storage Stock Performance

NYSE PSA opened at $325.99 on Monday. The company has a market cap of $57.25 billion, a P/E ratio of 31.11, a P/E/G ratio of 3.84 and a beta of 0.96. 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 stock has a 50-day moving average of $322.15 and a two-hundred day moving average of $304.75. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

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

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued 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 3.7%. Public Storage’s dividend payout ratio is 114.50%.

Institutional Investors Weigh In On Public Storage

Hedge funds and other institutional investors have recently modified their holdings of the company. Bruce G. Allen Investments LLC increased its holdings in Public Storage by 89.6% in the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 43 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Public Storage during the 3rd quarter worth about $27,000. Bayban purchased a new stake in Public Storage during the 4th quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in shares of Public Storage during the 2nd quarter worth about $36,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of Public Storage in the 3rd quarter valued at about $34,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PSA shares. Jefferies Financial Group upped their price objective on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Evercore set a $316.00 target price on Public Storage in a report on Monday, July 6th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Truist Financial increased their price target on Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $341.00 price target on shares of Public Storage in a research report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $326.05.

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.