3,125 Shares in Public Storage $PSA Purchased by Family Legacy Inc.

Key Points

• Family Legacy Inc. acquired 3,125 Public Storage shares worth approximately $995,000 during the second quarter. Institutional investors collectively own 78.79% of PSA.
• Analysts remain generally neutral, with a consensus “Hold” rating and an average price target of $326.05, despite several firms raising their targets. PSA recently traded near $325.99, close to its 52-week high.
• Public Storage reported quarterly EPS of $4.17, exceeding estimates of $2.53, while revenue reached $1.23 billion. The company declared a quarterly dividend of $3.00 per share, equivalent to a 3.7% annualized yield.

Family Legacy Inc. acquired a new stake in Public Storage (NYSE:PSA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,125 shares of the real estate investment trust's stock, valued at approximately $995,000.

Several other hedge funds have also recently added to or reduced their stakes in PSA. Knights of Columbus Asset Advisors LLC increased its position in Public Storage by 25.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust's stock worth $4,829,000 after buying an additional 3,763 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Public Storage by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust's stock valued at $75,171,000 after acquiring an additional 9,618 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Public Storage by 5.3% during the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust's stock valued at $63,838,000 after acquiring an additional 12,444 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Public Storage by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust's stock worth $118,576,000 after purchasing an additional 25,353 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Public Storage by 4.5% during the 4th quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust's stock worth $506,487,000 after purchasing an additional 83,916 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PSA shares. BNP Paribas Exane upped their target price on shares of Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 22nd. UBS Group raised their target price on shares of Public Storage from $314.00 to $326.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Raymond James Financial started coverage on shares of Public Storage in a research note on Thursday, July 16th. They issued a "market perform" rating for the company. BMO Capital Markets boosted their price target on Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. raised their price objective on Public Storage from $291.00 to $338.00 and gave the stock a "neutral" rating in a report on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $326.05.

Public Storage Price Performance

PSA opened at $325.99 on Friday. The company's 50 day simple moving average is $322.15 and its 200 day simple moving average is $304.57. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. The stock has a market capitalization of $57.25 billion, a PE ratio of 31.11, a P/E/G ratio of 3.84 and a beta of 0.96.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping the consensus estimate of $2.53 by $1.64. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage's payout ratio is currently 114.50%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.10% of the stock is currently owned by insiders.

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.

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