Mediolanum International Funds Ltd Sells 5,878 Shares of Public Storage $PSA

Mediolanum International Funds Ltd lessened its holdings in Public Storage (NYSE:PSA) by 43.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,684 shares of the real estate investment trust’s stock after selling 5,878 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Public Storage were worth $2,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PSA. Empowered Funds LLC raised its holdings in shares of Public Storage by 13.3% during the 1st 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 bought a new position in Public Storage in the second quarter valued at about $929,000. Nebula Research & Development LLC bought a new position in Public Storage in the second quarter valued at about $1,113,000. Treasurer of the State of North Carolina grew its position in Public Storage by 1.9% in the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock valued at $21,647,000 after acquiring an additional 1,390 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in Public Storage by 219.8% during the second 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 in the last quarter. Institutional investors own 78.79% of the company’s stock.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction that occurred 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 transaction, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is currently owned by corporate insiders.

Public Storage Trading Down 1.8%

Shares of NYSE PSA opened at $309.83 on Wednesday. The stock has a market cap of $54.39 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 4.24 and a beta of 0.96. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79. The firm has a 50 day moving average price of $314.32 and a two-hundred day moving average price of $298.93. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $4.12 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities analysts forecast that Public Storage will post 16.94 EPS for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is 123.84%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSA. Jefferies Financial Group increased their target price on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Scotiabank upped their price objective on shares of Public Storage from $342.00 to $345.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Barclays reiterated an “equal weight” rating and set a $349.00 price objective on shares of Public Storage in a research report on Friday, July 10th. BNP Paribas Exane raised their target price on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Finally, Raymond James Financial initiated coverage on shares of Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating on the stock. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $325.37.

Public Storage 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.