Wellington Management Group LLP Cuts Stake in Public Storage $PSA

Wellington Management Group LLP lowered its holdings in shares of Public Storage (NYSE:PSA) by 8.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,329,880 shares of the real estate investment trust’s stock after selling 123,868 shares during the quarter. Wellington Management Group LLP’s holdings in Public Storage were worth $423,314,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Public Storage during the second quarter valued at about $5,495,077,000. Norges Bank purchased a new position in shares of Public Storage in the fourth quarter worth about $1,163,751,000. Capital International Investors lifted its stake in shares of Public Storage by 821.4% in the 4th 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 acquiring an additional 3,686,211 shares during the last quarter. Legal & General Group Plc purchased a new stake in Public Storage in the second quarter worth about $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Public Storage during the second quarter valued at approximately $558,904,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.8%

Shares of PSA stock opened at $313.65 on Friday. The company has a market capitalization of $55.08 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.69 and a beta of 0.96. Public Storage has a one year low of $256.54 and a one year high of $335.55. The company’s fifty day moving average price is $322.34 and its 200-day moving average price is $307.48. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. Public Storage’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Sell-side analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is presently 114.50%.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of research reports. Citigroup upped their target price on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Scotiabank boosted their price objective on shares of Public Storage from $345.00 to $346.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th. Raymond James Financial assumed coverage on Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating for the company. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Mizuho raised their target price on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. 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, the stock currently has an average rating of “Hold” and an average target price of $326.16.

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.