ING Groep NV Decreases Stake in Public Storage $PSA

ING Groep NV cut its stake in shares of Public Storage (NYSE:PSA) by 72.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,908 shares of the real estate investment trust’s stock after selling 7,506 shares during the quarter. ING Groep NV’s holdings in Public Storage were worth $755,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of 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 acquiring an additional 3,763 shares during the last quarter. Barclays PLC increased its stake 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 period. Advisors Asset Management Inc. raised its holdings in shares of Public Storage by 35.9% during the third quarter. Advisors Asset Management Inc. now owns 14,158 shares of the real estate investment trust’s stock worth $4,090,000 after purchasing an additional 3,741 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in Public Storage by 777.1% during the third quarter. Aster Capital Management DIFC Ltd now owns 2,605 shares of the real estate investment trust’s stock valued at $752,000 after purchasing an additional 2,308 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Public Storage by 5.8% during 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. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 0.6%

PSA stock opened at $324.73 on Thursday. The firm has a market cap of $57.01 billion, a PE ratio of 33.51, a P/E/G ratio of 4.40 and a beta of 0.98. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s fifty day moving average is $301.26 and its 200 day moving average is $288.11. Public Storage has a one year low of $256.54 and a one year high of $331.79.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm posted $4.12 earnings per share. The company’s 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, research analysts forecast that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $3.00 dividend. 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 presently 123.84%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSA. Barclays lowered their price target 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. William Blair set a $305.00 price objective on Public Storage in a report on Monday, March 16th. Scotiabank upped their target price on Public Storage from $321.00 to $340.00 in a research note on Monday, May 11th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 target price on shares of Public Storage in a report on Wednesday, April 29th. Finally, Evercore lifted their price target on Public Storage from $306.00 to $317.00 in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $316.67.

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.