MGO One Seven LLC Reduces Position in Public Storage $PSA

Key Points

• MGO One Seven LLC cut its Public Storage stake by 28.3% in the fourth quarter, selling 3,463 shares and ending with 8,764 shares valued at about $2.27 million.
• Public Storage posted strong quarterly results, with EPS of $2.71 beating estimates of $2.42, while revenue matched expectations at $1.22 billion. The company also guided FY 2026 EPS to 16.35-17.00.
• The REIT declared a $3.00 quarterly dividend to be paid June 30, implying an annualized dividend of $12.00 and a yield of 3.9%. Analysts currently rate the stock a consensus Moderate Buy with an average price target of $309.78.

MGO One Seven LLC lessened its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 28.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,764 shares of the real estate investment trust's stock after selling 3,463 shares during the period. MGO One Seven LLC's holdings in Public Storage were worth $2,274,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Public Storage during the third quarter valued at approximately $27,000. Raiffeisen Bank International AG purchased a new position in shares of Public Storage during the third quarter valued at approximately $30,000. Wealth Watch Advisors INC purchased a new position in shares of Public Storage during the third quarter valued at approximately $34,000. Quent Capital LLC purchased a new position in shares of Public Storage during the third quarter valued at approximately $37,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Public Storage by 2,940.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Up 0.0%

Shares of NYSE PSA opened at $311.05 on Monday. 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 firm has a market capitalization of $54.60 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 4.25 and a beta of 1.00. The stock has a 50 day moving average price of $293.68 and a 200 day moving average price of $284.41. Public Storage has a 52-week low of $256.54 and a 52-week high of $313.51.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.Public Storage's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Sell-side analysts expect that Public Storage will post 16.89 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. Public Storage's payout ratio is presently 123.84%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PSA shares. Barclays dropped their target price on Public Storage from $352.00 to $349.00 and set an "overweight" rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered Public Storage from a "buy" rating to a "hold" rating and set a $285.00 target price for the company. in a research report on Tuesday, January 20th. The Goldman Sachs Group restated a "buy" rating and set a $341.00 target price on shares of Public Storage in a research report on Wednesday, April 29th. Wall Street Zen upgraded Public Storage from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Public Storage in a report on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $309.78.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.