Public Storage $PSA Shares Sold by WD Rutherford LLC

Key Points

• WD Rutherford LLC cut its Public Storage stake by 72.9% in the first quarter, selling 4,350 shares and leaving it with 1,613 shares valued at about $437,000.
• Several analysts recently raised price targets on Public Storage, but sentiment remains mixed overall: the stock has an average Hold rating and an average target price of $324.68.
• Public Storage reported quarterly EPS of $2.71, beating expectations, and paid a quarterly dividend of $3.00 per share, implying an annualized yield of 3.7%.

WD Rutherford LLC lessened its position in Public Storage (NYSE:PSA - Free Report) by 72.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,613 shares of the real estate investment trust's stock after selling 4,350 shares during the quarter. WD Rutherford LLC's holdings in Public Storage were worth $437,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on PSA. The Goldman Sachs Group restated a "buy" rating and set a $341.00 price target on shares of Public Storage in a research report on Wednesday, April 29th. BMO Capital Markets raised 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. JPMorgan Chase & Co. boosted their target price on Public Storage from $291.00 to $338.00 and gave the stock a "neutral" rating in a report on Thursday, June 11th. Royal Bank Of Canada upped their price target on Public Storage from $301.00 to $305.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 29th. Finally, Citigroup increased their price target on Public Storage from $325.00 to $363.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. One 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. Based on data from MarketBeat.com, Public Storage presently has an average rating of "Hold" and an average price target of $324.68.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of Public Storage 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 sale, the insider owned 1,414 shares in the company, valued at $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is currently owned by company insiders.

Public Storage Price Performance

Shares of PSA stock opened at $323.20 on Thursday. 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 company has a market capitalization of $56.74 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 4.28 and a beta of 0.96. The firm's 50-day moving average is $310.06 and its two-hundred day moving average is $293.24. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings results 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 business 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%. The business's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Analysts predict that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage's dividend payout ratio (DPR) 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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