Heartland Advisors Inc. Sells 2,071 Shares of Public Storage $PSA

Heartland Advisors Inc. cut its holdings in Public Storage (NYSE:PSA) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,922 shares of the real estate investment trust’s stock after selling 2,071 shares during the quarter. Public Storage comprises approximately 1.1% of Heartland Advisors Inc.’s holdings, making the stock its 15th largest position. Heartland Advisors Inc.’s holdings in Public Storage were worth $21,378,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bayban acquired a new stake in shares of Public Storage in the 4th quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new stake in Public Storage in the third quarter worth $27,000. Wealth Watch Advisors INC acquired a new position in Public Storage during the third quarter worth $34,000. Raiffeisen Bank International AG increased its position 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 buying an additional 37 shares during the last quarter. Finally, Knuff & Co LLC bought a new position in Public Storage during the fourth quarter valued at about $38,000. 78.79% of the stock is owned by institutional investors.

Insider Transactions at Public Storage

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

Public Storage Stock Down 1.9%

Public Storage stock opened at $318.33 on Friday. The firm has a market cap of $55.88 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 4.28 and a beta of 0.96. 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 fifty-two week low of $256.54 and a fifty-two week high of $331.79. The firm has a fifty day moving average price of $314.27 and a two-hundred day moving average price of $297.92.

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, beating analysts’ consensus estimates of $2.42 by $0.29. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, analysts forecast that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $3.00 per share. The ex-dividend date was Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.8%. Public Storage’s dividend payout ratio is presently 123.84%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PSA. Citigroup upped their price target on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. BNP Paribas Exane raised their price objective on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Barclays restated an “equal weight” rating and issued a $349.00 target price on shares of Public Storage in a report on Friday, July 10th. Jefferies Financial Group boosted their target price on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada upped 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. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, Public Storage presently has a consensus rating of “Hold” and an average target price of $325.37.

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.