Morningstar Investment Management LLC Sells 4,085 Shares of Public Storage $PSA

Morningstar Investment Management LLC cut its holdings in shares of Public Storage (NYSE:PSA) by 73.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,446 shares of the real estate investment trust’s stock after selling 4,085 shares during the quarter. Morningstar Investment Management LLC’s holdings in Public Storage were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PSA. Vanguard Group Inc. raised its holdings in Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after acquiring an additional 2,274,397 shares during the period. AQR Capital Management LLC raised its holdings in Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after acquiring an additional 481,872 shares during the period. Centersquare Investment Management LLC raised its holdings in Public Storage by 38.0% during the third quarter. Centersquare Investment Management LLC now owns 1,145,607 shares of the real estate investment trust’s stock valued at $330,909,000 after acquiring an additional 315,370 shares during the period. Barclays PLC raised its holdings in Public Storage by 93.8% during the third quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust’s stock valued at $174,165,000 after acquiring an additional 291,895 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Public Storage by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock valued at $963,177,000 after acquiring an additional 177,421 shares during the period. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on PSA. UBS Group raised their price target on Public Storage from $276.00 to $314.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Tuesday, April 21st. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $330.00 to $295.00 in a report on Thursday, February 5th. JPMorgan Chase & Co. reduced their target price on Public Storage from $295.00 to $291.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Finally, Evercore set a $306.00 target price on Public Storage in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and an average price target of $314.33.

Public Storage Trading Down 0.1%

Shares of PSA stock opened at $304.96 on Tuesday. Public Storage has a 12-month low of $256.54 and a 12-month high of $313.51. The stock has a market capitalization of $53.54 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 4.17 and a beta of 1.00. The stock’s 50-day moving average price is $293.32 and its 200-day moving average price is $285.14. 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 data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted $4.12 EPS. The business’s revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities research analysts predict that Public Storage will post 16.89 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.9%. Public Storage’s dividend payout ratio (DPR) is currently 123.84%.

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.