Nathaniel Vitan Sells 1,414 Shares of Public Storage (NYSE:PSA) Stock

Key Points

• Public Storage insider Nathaniel Vitan sold 1,414 shares at an average price of $327.53, generating proceeds of approximately $463,127.
• PSA reported quarterly earnings of $4.17 per share, beating estimates of $2.53, while revenue reached $1.23 billion and declined 0.5% year over year.
• The company declared a quarterly dividend of $3.00 per share, or $12.00 annualized, representing a 3.7% yield; analysts collectively rate the stock “Hold” with an average price target of $326.05.

Public Storage (NYSE:PSA - Get Free Report) insider Nathaniel Vitan sold 1,414 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Public Storage Price Performance

Shares of NYSE PSA traded down $2.73 during trading on Friday, reaching $325.99. The company had a trading volume of 519,302 shares, compared to its average volume of 1,247,623. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The stock has a 50-day moving average price of $322.15 and a two-hundred day moving average price of $304.57. The stock has a market capitalization of $57.25 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 3.87 and a beta of 0.96.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the business posted $4.28 EPS. The firm's quarterly revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts predict that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. Public Storage's payout ratio is 114.50%.

Institutional Trading of Public Storage

A number of institutional investors and hedge funds have recently made changes to their positions in PSA. Hsbc Holdings PLC purchased a new stake in shares of Public Storage during the 2nd quarter worth about $195,808,000. Ancora Advisors LLC purchased a new position in Public Storage in the second quarter valued at approximately $67,000. Canada Pension Plan Investment Board purchased a new position in Public Storage in the second quarter valued at approximately $96,288,000. Osterweis Capital Management Inc. acquired a new position in Public Storage during the second quarter valued at approximately $6,673,000. Finally, Legal & General Group Plc acquired a new position in Public Storage during the second quarter valued at approximately $601,650,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PSA shares. BNP Paribas Exane raised their target price on shares of Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 22nd. Barclays reiterated an "equal weight" rating and issued a $349.00 price target on shares of Public Storage in a report on Friday, July 10th. Citigroup increased 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. UBS Group lifted their price objective on Public Storage from $314.00 to $326.00 and gave the company a "neutral" rating in a research report on Friday, July 10th. Finally, Jefferies Financial Group upped their target price on Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $326.05.

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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