Public Storage $PSA Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Public Storage (NYSE:PSA) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,007,039 shares of the real estate investment trust’s stock after selling 46,329 shares during the period. Bank of New York Mellon Corp owned 0.57% of Public Storage worth $261,327,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PSA. Empowered Funds LLC boosted its stake in shares of Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after acquiring an additional 373 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Public Storage during the second quarter valued at $929,000. Nebula Research & Development LLC purchased a new position in Public Storage during the second quarter worth about $1,113,000. Treasurer of the State of North Carolina lifted its position in Public Storage by 1.9% during the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock worth $21,647,000 after buying an additional 1,390 shares during the period. Finally, Ieq Capital LLC lifted its position 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 buying an additional 33,122 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays reduced their target price on Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 target price on the stock. in a research 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 research report on Monday, March 23rd. BNP Paribas Exane increased their target price on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada increased their target price 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 issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $316.06.

Public Storage Stock Performance

Public Storage stock opened at $306.77 on Friday. The stock’s 50-day moving average is $297.23 and its 200-day moving average is $286.73. The company has a market cap of $53.85 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 4.12 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. Public Storage has a 12 month low of $256.54 and a 12 month high of $313.51.

Public Storage (NYSE:PSA) last released 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. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities analysts anticipate that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

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

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.