Intech Investment Management LLC Decreases Holdings in Public Storage $PSA

Intech Investment Management LLC reduced its stake in Public Storage (NYSE:PSA) by 45.4% in the 4th quarter, Holdings Channel reports. The firm owned 13,896 shares of the real estate investment trust’s stock after selling 11,575 shares during the quarter. Intech Investment Management LLC’s holdings in Public Storage were worth $3,606,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage in the third quarter worth about $27,000. Raiffeisen Bank International AG acquired a new stake in shares of Public Storage in the third quarter valued at about $30,000. Wealth Watch Advisors INC purchased a new stake in shares of Public Storage during the 3rd quarter valued at about $34,000. Knuff & Co LLC purchased a new stake in shares of Public Storage during the 4th quarter valued at about $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Public Storage by 2,940.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 147 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 2.4%

Shares of NYSE:PSA opened at $296.30 on Tuesday. The firm has a market cap of $52.01 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 4.14 and a beta of 0.98. The company has a fifty day simple moving average of $295.18 and a 200 day simple moving average of $286.13. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 12-month low of $256.54 and a 12-month high of $313.51.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities research analysts anticipate that Public Storage will post 16.9 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.0%. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSA. Evercore set a $306.00 price target on Public Storage in a report on Monday, May 4th. BMO Capital Markets reiterated a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Mizuho boosted their target price on shares of Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Scotiabank upped their target price on shares of Public Storage from $321.00 to $340.00 in a research note on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Tuesday, April 21st. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $316.06.

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.