Public Storage $PSA Shares Sold by Canada Post Corp Registered Pension Plan

Key Points

• Canada Post Corp Registered Pension Plan cut its Public Storage stake by 75.3% in the fourth quarter, selling 5,924 shares and ending with 1,942 shares valued at about $504,000.
• Public Storage posted stronger-than-expected quarterly results, reporting EPS of $2.71 versus the $2.42 consensus estimate, while revenue came in at $1.22 billion, essentially matching expectations.
• The company announced a quarterly dividend of $3.00 per share, payable June 30, which equates to a 4.0% annualized yield, while Wall Street currently holds a “Moderate Buy” consensus with an average price target of $312.94.

Canada Post Corp Registered Pension Plan lessened its stake in Public Storage (NYSE:PSA - Free Report) by 75.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,942 shares of the real estate investment trust's stock after selling 5,924 shares during the quarter. Canada Post Corp Registered Pension Plan's holdings in Public Storage were worth $504,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Public Storage by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust's stock valued at $6,576,534,000 after purchasing an additional 2,274,397 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Public Storage by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust's stock valued at $963,177,000 after purchasing an additional 177,421 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Public Storage by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,194,212 shares of the real estate investment trust's stock valued at $633,796,000 after purchasing an additional 49,996 shares during the last quarter. APG Asset Management US Inc. boosted its holdings in shares of Public Storage by 0.7% in the 3rd quarter. APG Asset Management US Inc. now owns 2,184,979 shares of the real estate investment trust's stock valued at $635,130,000 after purchasing an additional 14,367 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Public Storage by 5.2% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,940,574 shares of the real estate investment trust's stock valued at $560,535,000 after purchasing an additional 96,627 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of PSA stock opened at $297.78 on Wednesday. Public Storage has a 12 month low of $256.54 and a 12 month high of $313.51. 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 firm has a market capitalization of $52.28 billion, a P/E ratio of 30.73, a P/E/G ratio of 4.04 and a beta of 1.00. The company's fifty day moving average price is $293.18 and its two-hundred day moving average price is $284.40.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.29. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company's revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, research analysts anticipate that Public Storage will post 16.89 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $3.00 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.0%. Public Storage's payout ratio is presently 123.84%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PSA shares. Truist Financial lifted their target price on shares of Public Storage from $315.00 to $317.00 and gave the company a "buy" rating in a report on Tuesday, January 20th. William Blair set a $305.00 target price on shares of Public Storage in a report on Monday, March 16th. BMO Capital Markets restated a "market perform" rating on shares of Public Storage in a report on Monday, March 16th. Barclays reduced their target price on shares of Public Storage from $352.00 to $349.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Finally, Scotiabank lifted their target price on shares of Public Storage from $321.00 to $340.00 in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $312.94.

Public Storage 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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