Montrusco Bolton Investments Inc. Has $135.83 Million Stock Position in Public Storage $PSA

Key Points

• Montrusco Bolton Investments cut its stake in Public Storage by 18.5% in the first quarter, selling 117,420 shares and leaving it with 518,306 shares worth about $135.83 million.
• Analyst sentiment on Public Storage remains mixed, with a consensus rating of "Hold" and an average price target of $324.68, even as several firms recently adjusted their targets.
• Public Storage reported better-than-expected quarterly earnings of $2.71 per share, and it recently paid a $3.00 quarterly dividend, equal to a 3.6% annualized yield.

Montrusco Bolton Investments Inc. lowered its stake in Public Storage (NYSE:PSA - Free Report) by 18.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 518,306 shares of the real estate investment trust's stock after selling 117,420 shares during the quarter. Public Storage comprises approximately 2.1% of Montrusco Bolton Investments Inc.'s investment portfolio, making the stock its 21st biggest holding. Montrusco Bolton Investments Inc. owned 0.30% of Public Storage worth $135,830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bayban bought a new stake in Public Storage in the 4th quarter valued at $26,000. Harvest Fund Management Co. Ltd acquired a new position in Public Storage in the 3rd quarter worth $27,000. Wealth Watch Advisors INC bought a new position in Public Storage during the 3rd quarter worth about $34,000. Raiffeisen Bank International AG increased its holdings in Public Storage by 35.2% during the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Knuff & Co LLC acquired a new stake in shares of Public Storage in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Mizuho boosted their price target on Public Storage from $301.00 to $316.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Barclays decreased their price objective on Public Storage from $352.00 to $349.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Royal Bank Of Canada boosted their target price on Public Storage from $301.00 to $305.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 29th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $341.00 price target on shares of Public Storage in a research report on Wednesday, April 29th. Finally, William Blair set a $305.00 price target on shares of Public Storage in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of "Hold" and a consensus price target of $324.68.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the business's stock in a transaction that occurred on 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 $459,281.34. The trade was a 40.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is currently owned by corporate insiders.

Public Storage Trading Down 0.1%

Shares of NYSE:PSA opened at $329.25 on Friday. The company's 50-day moving average price is $310.97 and its two-hundred day moving average price is $293.88. Public Storage has a one year low of $256.54 and a one year high of $331.79. 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 capitalization of $57.80 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 4.43 and a beta of 0.96.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.Public Storage's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities analysts forecast that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, June 15th. Public Storage's dividend payout ratio (DPR) is currently 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.

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