Andra AP fonden Has $6.13 Million Holdings in Public Storage $PSA

Andra AP fonden cut its holdings in Public Storage (NYSE:PSA) by 47.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 22,630 shares of the real estate investment trust’s stock after selling 20,690 shares during the period. Andra AP fonden’s holdings in Public Storage were worth $6,130,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PSA. Vanguard Group Inc. increased its stake in Public Storage by 9.9% in 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 purchasing an additional 2,274,397 shares in the last quarter. Norges Bank purchased a new stake in shares of Public Storage in the fourth quarter worth approximately $1,163,751,000. Capital International Investors boosted its position in shares of Public Storage by 821.4% during the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after buying an additional 3,686,211 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Public Storage by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock valued at $1,056,976,000 after buying an additional 66,445 shares during the last quarter. Finally, Cohen & Steers Inc. grew its holdings in Public Storage by 9.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after buying an additional 339,882 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PSA. Barclays restated an “equal weight” rating and set a $349.00 price objective on shares of Public Storage in a research note on Friday, July 10th. Citigroup upped their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. JPMorgan Chase & Co. lifted their target price on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $341.00 price target on shares of Public Storage in a report on Wednesday, April 29th. Finally, Scotiabank increased their price target on shares of Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $325.37.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider owned 1,414 shares of the company’s stock, valued at $459,281.34. The trade was a 40.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 11.10% of the company’s stock.

Public Storage Price Performance

NYSE PSA opened at $311.80 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a market cap of $54.74 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 4.17 and a beta of 0.96. Public Storage has a 52 week low of $256.54 and a 52 week high of $331.79. The firm’s 50-day simple moving average is $314.47 and its two-hundred day simple moving average is $299.30.

Public Storage (NYSE:PSA) last posted its 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 firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned $4.12 earnings per share. The company’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. Research analysts predict that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, June 15th. Public Storage’s payout ratio is currently 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.