Public Storage $PSA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its Public Storage stake by 1.9% in the first quarter, selling 15,857 shares and ending with 840,435 shares valued at about $227.7 million.
• Public Storage reported better-than-expected quarterly earnings of $2.71 per share, while revenue matched forecasts at $1.22 billion; the company also reaffirmed FY 2026 EPS guidance of 16.35 to 17.00.
• The REIT continues to reward shareholders with a quarterly dividend of $3.00 per share, equal to an annualized yield of 3.8%, even as analysts currently rate the stock a consensus Hold with an average price target of $324.74.

Sumitomo Mitsui Trust Group Inc. decreased its position in Public Storage (NYSE:PSA - Free Report) by 1.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 840,435 shares of the real estate investment trust's stock after selling 15,857 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.48% of Public Storage worth $227,657,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. raised its stake in shares of Public Storage by 3.9% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 94,547 shares of the real estate investment trust's stock worth $25,185,000 after buying an additional 3,528 shares during the last quarter. Isthmus Partners LLC grew its stake in Public Storage by 2.3% in the 1st quarter. Isthmus Partners LLC now owns 43,576 shares of the real estate investment trust's stock valued at $11,804,000 after acquiring an additional 987 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Public Storage by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,101 shares of the real estate investment trust's stock valued at $4,903,000 after acquiring an additional 56 shares during the last quarter. Frank Rimerman Advisors LLC increased its holdings in Public Storage by 5.2% during the 1st quarter. Frank Rimerman Advisors LLC now owns 1,674 shares of the real estate investment trust's stock valued at $453,000 after acquiring an additional 83 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in Public Storage by 2.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 3,019 shares of the real estate investment trust's stock valued at $818,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of PSA opened at $319.15 on Friday. Public Storage has a 1 year low of $256.54 and a 1 year high of $331.79. The company's 50 day simple moving average is $312.38 and its 200 day simple moving average is $295.69. The company has a market capitalization of $56.03 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 4.31 and a beta of 0.96. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA - Get Free Report) last released its 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 firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. Public Storage's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, sell-side analysts predict that Public Storage will post 16.94 EPS for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. Public Storage's payout ratio is currently 123.84%.

Analyst Ratings Changes

A number of brokerages have issued reports on PSA. Scotiabank lifted their target price on shares of Public Storage from $342.00 to $345.00 and gave the stock an "outperform" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Public Storage from $291.00 to $338.00 and gave the company a "neutral" rating in a research report on Thursday, June 11th. Mizuho raised their price objective on shares of Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Weiss Ratings upgraded Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 12th. Finally, William Blair set a $305.00 target price on Public Storage in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $324.74.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.10% of the stock is currently owned by corporate insiders.

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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