Morningstar Investment Management LLC Reduces Stake in Public Storage $PSA

Morningstar Investment Management LLC lowered its stake in Public Storage (NYSE:PSA) by 73.9% in the 4th quarter, HoldingsChannel reports. The fund owned 1,446 shares of the real estate investment trust’s stock after selling 4,085 shares during the period. Morningstar Investment Management LLC’s holdings in Public Storage were worth $375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Harvest Fund Management Co. Ltd purchased a new position in Public Storage in the third quarter worth about $27,000. Raiffeisen Bank International AG purchased a new position in shares of Public Storage during the 3rd quarter worth about $30,000. Wealth Watch Advisors INC purchased a new position in shares of Public Storage during the 3rd quarter worth about $34,000. Knuff & Co LLC purchased a new position in shares of Public Storage during the 4th quarter worth about $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Public Storage by 2,940.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.1%

Shares of NYSE:PSA opened at $304.96 on Tuesday. Public Storage has a 1 year low of $256.54 and a 1 year high of $313.51. The business has a 50 day simple moving average of $293.32 and a two-hundred day simple moving average of $285.14. The firm has a market capitalization of $53.54 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 4.17 and a beta of 1.00. 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 (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business earned $4.12 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities analysts predict that Public Storage will post 16.89 EPS for the current year.

Public Storage Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 price target on shares of Public Storage in a research note on Wednesday, April 29th. Evercore set a $306.00 target price on Public Storage in a research report on Monday, May 4th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Tuesday, April 21st. Barclays dropped their target price on Public Storage from $352.00 to $349.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their target price on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $314.33.

About Public Storage

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.