Chevy Chase Trust Holdings LLC Sells 2,863 Shares of Public Storage $PSA

Chevy Chase Trust Holdings LLC lowered its position in shares of Public Storage (NYSE:PSA) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,848 shares of the real estate investment trust’s stock after selling 2,863 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Public Storage were worth $25,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Public Storage in the second quarter worth $1,153,971,000. Vanguard Group Inc. boosted its stake in Public Storage by 10.8% during the third quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock valued at $6,663,394,000 after buying an additional 2,253,225 shares during the period. AQR Capital Management LLC grew its position 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 worth $166,970,000 after buying an additional 481,872 shares in the last quarter. Centersquare Investment Management LLC grew its position 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 worth $330,909,000 after buying an additional 315,370 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Public Storage by 375.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 389,169 shares of the real estate investment trust’s stock worth $114,190,000 after acquiring an additional 307,357 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the topic of several recent analyst reports. Raymond James Financial lowered their price target on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 18th. Evercore set a $302.00 price objective on shares of Public Storage in a research report on Tuesday, February 17th. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Barclays lifted their target price on shares of Public Storage from $331.00 to $347.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Finally, Scotiabank boosted their price target on shares of Public Storage from $300.00 to $319.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $307.00.

Public Storage Price Performance

PSA opened at $289.78 on Tuesday. The stock has a 50-day moving average price of $291.72 and a 200-day moving average price of $284.76. Public Storage has a 12-month low of $256.54 and a 12-month high of $312.95. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $50.86 billion, a P/E ratio of 32.13, a PEG ratio of 6.03 and a beta of 0.99.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage’s dividend payout ratio is currently 133.04%.

More Public Storage News

Here are the key news stories impacting Public Storage this week:

• Positive Sentiment: The transaction creates a much larger national self‑storage platform with potential scale benefits, operating synergies and a clearer PS4.0 growth plan that could lift long‑term cash flow and competitive position. Public Storage to Acquire National Storage Affiliates
• Positive Sentiment: Management and analysts highlight significant combined scale — reports note the merged company would rank among the biggest publicly traded storage operators, which may support pricing power and portfolio optimization over time. WSJ: Public Storage to Acquire National Storage Affiliates
• Neutral Sentiment: Deal mechanics: NSA shareholders will receive 0.14 PSA shares per NSA share; some outlets value the transaction at roughly $10.5B while others report a ~$5.6B stock‑deal component — differences reflect valuation metrics and reporting frames. Proactive: Public Storage to acquire National Storage Affiliates in $10.5B deal
• Neutral Sentiment: Management held an M&A call and provided slides/transcript with deal rationale and next steps; investors will watch approvals, JV arrangements and integration timelines for clarity. Seeking Alpha: M&A Call Transcript
• Negative Sentiment: The all‑stock structure increases PSA’s share count and may cause near‑term EPS dilution and selling pressure as NSA holders receive PSA shares; that dilution concern is a key reason the stock is trading lower. Seeking Alpha: Compelling Merger But Maybe Not Short‑Term
• Negative Sentiment: Integration and execution risks, plus potential impacts to leverage and capital allocation, create near‑term uncertainty that can weigh on the stock until synergies and pro‑forma metrics are clearer. Benzinga: Public Storage Strikes $10.5B Deal

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.