302,496 Shares in Public Storage $PSA Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in Public Storage (NYSE:PSA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 302,496 shares of the real estate investment trust's stock, valued at approximately $96,288,000. Canada Pension Plan Investment Board owned approximately 0.17% of Public Storage as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC raised its position in shares of Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust's stock worth $954,000 after purchasing an additional 373 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Public Storage in the 2nd quarter valued at $929,000. Nebula Research & Development LLC acquired a new position in shares of Public Storage in the 2nd quarter valued at $1,113,000. Treasurer of the State of North Carolina increased its stake in Public Storage by 1.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust's stock worth $21,647,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in Public Storage by 219.8% in the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust's stock worth $14,140,000 after purchasing an additional 33,122 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 11.10% of the company's stock.

Public Storage Stock Down 1.7%

Shares of Public Storage stock opened at $317.25 on Thursday. The stock has a 50-day moving average price of $322.57 and a 200 day moving average price of $307.26. The company has a market cap of $55.72 billion, a P/E ratio of 30.27, a P/E/G ratio of 3.80 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 40.98% and a net margin of 41.80%.The business's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. 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 dividend payout ratio (DPR) is currently 114.50%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSA. Barclays upped their price objective on shares of Public Storage from $349.00 to $350.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 19th. Royal Bank Of Canada lifted their target price on shares of Public Storage from $305.00 to $318.00 and gave the stock a "sector perform" rating in a research report on Friday, July 31st. Scotiabank boosted their price target on shares of Public Storage from $345.00 to $346.00 and gave the company an "outperform" rating in a report on Tuesday, August 18th. Weiss Ratings upgraded shares of Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 12th. Finally, Citigroup raised their price objective on shares of Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Storage has an average rating of "Hold" and an average price target 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.

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