Securian Asset Management Inc. Decreases Stake in Public Storage $PSA

Securian Asset Management Inc. reduced its holdings in shares of Public Storage (NYSE:PSA) by 44.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,294 shares of the real estate investment trust’s stock after selling 3,378 shares during the period. Securian Asset Management Inc.’s holdings in Public Storage were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Harvest Fund Management Co. Ltd purchased a new position in Public Storage in the 3rd quarter worth about $27,000. Raiffeisen Bank International AG purchased a new stake in shares of Public Storage during the 3rd quarter valued at about $30,000. Wealth Watch Advisors INC bought a new stake in shares of Public Storage in the third quarter worth approximately $34,000. Quent Capital LLC bought a new stake in shares of Public Storage in the third quarter worth approximately $37,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Public Storage by 2,940.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 147 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.1%

Shares of PSA stock opened at $311.26 on Wednesday. Public Storage has a 12 month low of $256.54 and a 12 month high of $313.51. The stock has a market cap of $54.64 billion, a P/E ratio of 32.12, a P/E/G ratio of 4.25 and a beta of 1.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a 50 day simple moving average of $294.17 and a two-hundred day simple moving average of $284.43.

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 for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company posted $4.12 EPS. The company’s 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. On average, research analysts expect that Public Storage will post 16.89 earnings per share for the current year.

Public Storage Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $341.00 target price on shares of Public Storage in a research report on Wednesday, April 29th. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $295.00 in a report on Thursday, February 5th. Barclays dropped their price target on Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Scotiabank lifted their price objective on Public Storage from $321.00 to $340.00 in a report on Monday. Finally, Wolfe Research downgraded Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $310.83.

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.