Public Storage (NYSE:PSA) Insider Sells $308,569.50 in Stock

Key Points

• Public Storage insider Nathaniel Vitan sold 950 shares on June 12 at an average price of $324.81, totaling about $308,569.50. The sale reduced his ownership by 40.19%.
• The stock recently traded around $321.73, near its 52-week high of $331.79, with a market cap of $56.48 billion. Public Storage also reported solid quarterly results, with EPS of $2.71 beating estimates.
• The company declared a quarterly dividend of $3.00 per share, payable June 30, equal to an annualized yield of 3.7%. Analysts currently have a consensus rating of Hold with an average target price of $321.22.

Public Storage (NYSE:PSA - Get Free Report) insider Nathaniel Vitan sold 950 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider owned 1,414 shares of the company's stock, valued at approximately $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Public Storage Stock Performance

Public Storage stock traded up $0.75 on Tuesday, hitting $321.73. The company's stock had a trading volume of 181,141 shares, compared to its average volume of 1,122,298. The firm has a market cap of $56.48 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 4.44 and a beta of 0.98. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a fifty day moving average price of $304.14 and a 200-day moving average price of $289.24. Public Storage has a one year low of $256.54 and a one year high of $331.79.

Public Storage (NYSE:PSA - Get Free Report) last posted 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. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned $4.12 EPS. The firm's quarterly revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities analysts anticipate that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage's dividend payout ratio is currently 123.84%.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays dropped 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. Citigroup reaffirmed a "buy" rating on shares of Public Storage in a research note on Tuesday. The Goldman Sachs Group reissued a "buy" rating and issued a $341.00 target price on shares of Public Storage in a research note on Wednesday, April 29th. Royal Bank Of Canada raised their target price on shares of Public Storage from $301.00 to $305.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 29th. Finally, Evercore lifted their target price on Public Storage from $306.00 to $317.00 in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $321.22.

Hedge Funds Weigh In On Public Storage

Several institutional investors have recently added to or reduced their stakes in the stock. Knights of Columbus Asset Advisors LLC lifted its stake in Public Storage by 25.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust's stock valued at $4,829,000 after buying an additional 3,763 shares in the last quarter. Barclays PLC raised its holdings in shares of Public Storage by 93.8% in the third quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust's stock worth $174,165,000 after acquiring an additional 291,895 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in shares of Public Storage by 777.1% in the third quarter. Aster Capital Management DIFC Ltd now owns 2,605 shares of the real estate investment trust's stock worth $752,000 after acquiring an additional 2,308 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Public Storage by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust's stock valued at $118,576,000 after purchasing an additional 25,353 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Public Storage by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust's stock valued at $63,838,000 after purchasing an additional 12,444 shares during the period. Institutional investors own 78.79% of the company's stock.

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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