Public Storage $PSA Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Public Storage (NYSE:PSA) by 4.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,007,039 shares of the real estate investment trust’s stock after selling 46,329 shares during the quarter. Bank of New York Mellon Corp’s holdings in Public Storage were worth $261,327,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Public Storage in the third quarter valued at about $27,000. Raiffeisen Bank International AG acquired a new stake in shares of Public Storage in the third quarter valued at about $30,000. Wealth Watch Advisors INC acquired a new stake in shares of Public Storage in the third quarter valued at about $34,000. Knuff & Co LLC acquired a new stake in shares of Public Storage in the fourth quarter valued at about $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Public Storage by 2,940.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of Public Storage stock opened at $306.77 on Friday. The firm has a market cap of $53.85 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 4.12 and a beta of 0.98. The firm’s 50-day simple moving average is $297.23 and its 200-day simple moving average is $286.73. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a 1 year low of $256.54 and a 1 year high of $313.51.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $4.12 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities analysts forecast that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PSA. BMO Capital Markets reiterated a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Bank of America lowered Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective for the company. in a research note on Thursday, February 5th. Mizuho raised their price objective on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Finally, Royal Bank Of Canada raised their price objective on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $316.06.

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.