Public Storage $PSA Holdings Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Public Storage (NYSE:PSA) by 75.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,366 shares of the real estate investment trust’s stock after selling 22,426 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Public Storage were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bayban bought a new position in Public Storage in the 4th quarter valued at about $26,000. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the third quarter valued at approximately $27,000. Wealth Watch Advisors INC acquired a new position in shares of Public Storage during the third quarter valued at approximately $34,000. Raiffeisen Bank International AG raised its holdings in Public Storage by 35.2% during the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Knuff & Co LLC bought a new stake in Public Storage during the fourth quarter worth approximately $38,000. Institutional investors own 78.79% of the company’s stock.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the sale, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 11.10% of the stock is currently owned by company insiders.

Public Storage Stock Performance

Shares of PSA stock opened at $323.05 on Friday. 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 firm has a market cap of $56.71 billion, a P/E ratio of 33.34, a PEG ratio of 4.34 and a beta of 0.96. The stock’s 50-day moving average is $315.35 and its two-hundred day moving average is $299.87. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $4.12 EPS. The firm’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. Analysts predict that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 15th. Public Storage’s dividend payout ratio is currently 123.84%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PSA shares. Mizuho boosted their price objective on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Citigroup raised their price objective on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Royal Bank Of Canada boosted their target price on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. BMO Capital Markets increased their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research note on Monday, June 15th. Finally, Scotiabank raised their target price on shares of Public Storage from $342.00 to $345.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $325.37.

Public Storage 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.