Heartland Advisors Inc. Sells 2,071 Shares of Public Storage $PSA

Heartland Advisors Inc. trimmed its stake in Public Storage (NYSE:PSA) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,922 shares of the real estate investment trust’s stock after selling 2,071 shares during the period. Public Storage comprises about 1.1% of Heartland Advisors Inc.’s investment portfolio, making the stock its 15th biggest position. Heartland Advisors Inc.’s holdings in Public Storage were worth $21,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC grew its position in Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after buying an additional 373 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Public Storage in the 2nd quarter valued at approximately $929,000. Nebula Research & Development LLC bought a new stake in shares of Public Storage in the 2nd quarter worth approximately $1,113,000. Treasurer of the State of North Carolina lifted its position in shares of Public Storage by 1.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock worth $21,647,000 after acquiring an additional 1,390 shares during the period. Finally, Ieq Capital LLC lifted its position in shares of Public Storage by 219.8% in the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock worth $14,140,000 after acquiring an additional 33,122 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 1.9%

NYSE PSA opened at $318.33 on Friday. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79. The company has a market capitalization of $55.88 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 4.28 and a beta of 0.96. The stock’s 50 day moving average is $314.27 and its two-hundred day moving average is $297.92. 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 (NYSE:PSA) last issued its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.Public Storage’s quarterly 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. Equities analysts forecast that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, June 15th. Public Storage’s dividend payout ratio is 123.84%.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PSA shares. Raymond James Financial started coverage on Public Storage in a research report on Thursday. They set a “market perform” rating on the stock. Evercore set a $316.00 target price on Public Storage in a research report on Monday, July 6th. Citigroup lifted their price target on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Jefferies Financial Group boosted their price target on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, Public Storage has an average rating of “Hold” and a consensus price target of $325.37.

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.