Public Storage $PSA Shares Sold by Amundi

Amundi reduced its stake in shares of Public Storage (NYSE:PSA - Free Report) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 459,397 shares of the real estate investment trust's stock after selling 90,673 shares during the quarter. Amundi owned 0.26% of Public Storage worth $146,231,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Empowered Funds LLC grew its position in shares of Public Storage by 13.3% during the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust's stock valued at $954,000 after acquiring an additional 373 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Public Storage during the 2nd quarter valued at approximately $929,000. Nebula Research & Development LLC acquired a new stake in Public Storage in the 2nd quarter valued at $1,113,000. Treasurer of the State of North Carolina grew its stake in Public Storage by 1.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust's stock valued at $21,647,000 after acquiring an additional 1,390 shares during the period. Finally, Ieq Capital LLC increased its holdings in Public Storage by 219.8% in the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust's stock worth $14,140,000 after acquiring an additional 33,122 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

Public Storage stock opened at $301.43 on Wednesday. The firm has a 50 day simple moving average of $319.83 and a 200-day simple moving average of $307.88. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. 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 market cap of $52.94 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating 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 firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company earned $4.28 EPS. The business's revenue for the quarter was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 15th. Public Storage's dividend payout ratio is presently 114.50%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Mizuho lifted their target price on shares of Public Storage from $316.00 to $319.00 and gave the company a "neutral" rating in a research report on Wednesday, September 2nd. Truist Financial raised their target price on Public Storage from $302.00 to $338.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Citigroup lifted their price target on Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. BMO Capital Markets lifted their target price 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. Finally, Evercore set a $316.00 target price on shares of Public Storage in a research note on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $327.00.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.10% of the stock is currently owned by insiders.

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.

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