Public Storage $PSA Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC cut its Public Storage stake by 45.4% in the fourth quarter, leaving it with 13,896 shares valued at about $3.6 million.
• Several other institutions adjusted positions in the REIT, and hedge funds and other institutional investors now own 78.79% of Public Storage shares.
• Analysts remain cautious overall: the consensus rating is Hold with a consensus target price of $316.06, even as some firms recently lifted their price targets.

Intech Investment Management LLC lessened its holdings in Public Storage (NYSE:PSA - Free Report) by 45.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,896 shares of the real estate investment trust's stock after selling 11,575 shares during the period. Intech Investment Management LLC's holdings in Public Storage were worth $3,606,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Public Storage by 25.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust's stock worth $4,829,000 after purchasing an additional 3,763 shares during the last quarter. National Pension Service grew its holdings in shares of Public Storage by 4.2% during the third quarter. National Pension Service now owns 255,300 shares of the real estate investment trust's stock worth $73,743,000 after buying an additional 10,345 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Public Storage by 57.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust's stock valued at $1,437,000 after buying an additional 1,816 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Public Storage by 14,992.3% during the third quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust's stock valued at $3,400,000 after buying an additional 11,694 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of Public Storage by 19.9% during the third quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust's stock valued at $11,766,000 after buying an additional 6,814 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Mizuho raised their target price on shares of Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. UBS Group increased their price target on Public Storage from $276.00 to $314.00 and gave the stock a "neutral" rating in a research note on Monday, May 18th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Public Storage in a research report on Monday, March 16th. BNP Paribas Exane increased their target price on Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 22nd. Finally, William Blair set a $305.00 price target on Public Storage in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $316.06.

Public Storage Price Performance

Shares of Public Storage stock opened at $296.30 on Tuesday. The business's fifty day moving average price is $295.18 and its 200 day moving average price is $286.13. Public Storage has a twelve month low of $256.54 and a twelve month high of $313.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $52.01 billion, a P/E ratio of 30.58, a PEG ratio of 4.14 and a beta of 0.98.

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 EPS 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 analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm's revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, research analysts anticipate that Public Storage will post 16.9 earnings per share for the current year.

Public Storage Announces Dividend

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

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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