Public Employees Retirement System of Ohio Trims Stake in Public Storage $PSA

Public Employees Retirement System of Ohio lessened its stake in shares of Public Storage (NYSE:PSA) by 12.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 258,469 shares of the real estate investment trust’s stock after selling 37,430 shares during the period. Public Employees Retirement System of Ohio’s holdings in Public Storage were worth $70,014,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. V Square Quantitative Management LLC lifted its position in shares of Public Storage by 2.2% in the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock valued at $419,000 after acquiring an additional 34 shares in the last quarter. Gryphon Financial Partners LLC increased its position in Public Storage by 2.6% during the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 36 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares in the last quarter. Raiffeisen Bank International AG raised its stake in Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 37 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV raised its stake in Public Storage by 0.7% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust’s stock valued at $1,451,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Truist Financial lifted their price target on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Raymond James Financial initiated coverage on shares of Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating for the company. The Goldman Sachs Group reissued a “buy” rating and set a $341.00 price objective on shares of Public Storage in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada raised their target price on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, Public Storage has a consensus rating of “Hold” and an average price target of $325.37.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $315.54 on Friday. The business’s 50-day moving average price is $314.73 and its 200 day moving average price is $299.70. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79. The company has a market capitalization of $55.39 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 4.19 and a beta of 0.96. 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 quarterly 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, research analysts predict that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. 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.