Macquarie Group Ltd. Cuts Stake in Public Storage $PSA

Macquarie Group Ltd. reduced its stake in Public Storage (NYSE:PSA) by 67.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 165,842 shares of the real estate investment trust’s stock after selling 337,728 shares during the quarter. Macquarie Group Ltd.’s holdings in Public Storage were worth $43,036,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PSA shares. JPMorgan Chase & Co. boosted their price objective on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday. Evercore boosted their price objective on Public Storage from $306.00 to $317.00 in a research note on Monday, June 8th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. BNP Paribas Exane boosted their price objective on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Finally, UBS Group lifted their price target on Public Storage from $276.00 to $314.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Public Storage presently has an average rating of “Hold” and an average price target of $319.28.

Public Storage Trading Up 0.3%

Shares of PSA opened at $325.83 on Friday. The firm’s 50 day simple moving average is $303.33 and its 200 day simple moving average is $288.76. The company has a market capitalization of $57.20 billion, a P/E ratio of 33.63, a P/E/G ratio of 4.43 and a beta of 0.98. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The business 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%. Public Storage’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Sell-side analysts forecast that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is currently 123.84%.

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.