Public Storage $PSA Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in Public Storage (NYSE:PSA) by 13.0% in the first quarter, Holdings Channel reports. The institutional investor owned 72,411 shares of the real estate investment trust’s stock after selling 10,782 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Public Storage were worth $19,612,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bayban purchased a new stake in shares of Public Storage during the fourth quarter worth approximately $26,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage during the 3rd quarter valued at approximately $27,000. Wealth Watch Advisors INC acquired a new stake in Public Storage during the third quarter worth $34,000. Raiffeisen Bank International AG lifted its position in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 37 shares during the last quarter. Finally, Knuff & Co LLC acquired a new position in shares of Public Storage in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 1.5%

NYSE PSA opened at $323.20 on Thursday. 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 firm has a 50-day moving average price of $310.06 and a 200 day moving average price of $293.24. The stock has a market capitalization of $56.74 billion, a P/E ratio of 33.35, a P/E/G ratio of 4.28 and a beta of 0.96. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79.

Public Storage (NYSE:PSA) last posted its quarterly 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities research analysts expect that Public Storage will post 16.94 EPS for the current year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage’s payout ratio is 123.84%.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the sale, the insider owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PSA. Truist Financial lifted their price objective on Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 price objective on shares of Public Storage in a research report on Wednesday, April 29th. Jefferies Financial Group raised their target price on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. BMO Capital Markets lifted their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Finally, Royal Bank Of Canada lifted their price target on Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $324.68.

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.