Forsta AP Fonden Lowers Position in Public Storage $PSA

Forsta AP Fonden lessened its stake in Public Storage (NYSE:PSA) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,000 shares of the real estate investment trust’s stock after selling 1,800 shares during the period. Forsta AP Fonden’s holdings in Public Storage were worth $8,304,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PSA. Harvest Fund Management Co. Ltd purchased a new stake in Public Storage in the 3rd quarter worth approximately $27,000. Raiffeisen Bank International AG purchased a new stake in Public Storage in the 3rd quarter worth approximately $30,000. Wealth Watch Advisors INC purchased a new stake in Public Storage in the 3rd quarter worth approximately $34,000. Knuff & Co LLC purchased a new stake in Public Storage in the 4th quarter worth approximately $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Public Storage by 2,940.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Public Storage from $295.00 to $291.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Mizuho upped their price objective on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research report on Wednesday. BNP Paribas Exane upped their price objective on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Wells Fargo & Company lowered Public Storage from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $330.00 to $295.00 in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada upped their price objective on Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $316.06.

Public Storage Trading Up 0.1%

Shares of NYSE:PSA opened at $304.01 on Monday. Public Storage has a 1 year low of $256.54 and a 1 year high of $313.51. The firm has a market capitalization of $53.37 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 4.14 and a beta of 0.98. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50 day moving average price is $294.80 and its 200-day moving average price is $286.00.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.22 billion. During the same quarter last year, the firm 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. On average, equities research analysts forecast that Public Storage will post 16.9 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.9%. Public Storage’s dividend payout ratio (DPR) is 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.