54,596 Shares in Public Storage $PSA Acquired by Nykredit A S

Key Points

• Nykredit A S acquired 54,596 shares of Public Storage during the second quarter, valued at approximately $17.4 million. Institutional investors currently own 78.79% of PSA.
• Analysts maintain a generally cautious outlook, with a consensus rating of “Hold” and an average price target of $327.05; seven analysts rate the stock Buy while fourteen rate it Hold.
• Public Storage reported quarterly EPS of $4.17, beating estimates of $2.53, and announced a $3.00 quarterly dividend, equivalent to a $12.00 annualized payout and a 4.1% yield.

Nykredit A S bought a new stake in Public Storage (NYSE:PSA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 54,596 shares of the real estate investment trust's stock, valued at approximately $17,378,000.

Several other hedge funds have also bought and sold shares of PSA. Knights of Columbus Asset Advisors LLC lifted its stake 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 purchasing an additional 3,763 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Public Storage during the 2nd quarter valued at about $195,808,000. Nomura Asset Management Co. Ltd. increased its position in shares of Public Storage by 3.4% during the 4th 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 purchasing an additional 9,618 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of 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 valued at $506,487,000 after buying an additional 83,916 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Public Storage during the 4th quarter valued at about $1,163,751,000. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wells Fargo & Company set a $311.00 target price on Public Storage in a research report on Tuesday, September 1st. Evercore set a $316.00 price target on shares of Public Storage in a research report on Monday, July 6th. Raymond James Financial initiated coverage on shares of Public Storage in a research note on Thursday, July 16th. They set a "market perform" rating on the stock. BMO Capital Markets boosted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a "market perform" rating in a report on Monday, June 15th. Finally, Scotiabank cut their price objective on shares of Public Storage from $346.00 to $343.00 and set a "sector outperform" rating for the company in a research note on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat, Public Storage presently has a consensus rating of "Hold" and a consensus target price of $327.05.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 11.10% of the stock is currently owned by insiders.

Public Storage Trading Down 1.7%

NYSE PSA opened at $295.77 on Friday. The firm has a market cap of $51.94 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 4.03 and a beta of 0.95. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. The stock has a 50-day moving average of $315.30 and a 200-day moving average of $307.45. 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 (NYSE:PSA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $1.64. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.Public Storage's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts forecast that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be issued a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. Public Storage's dividend payout ratio (DPR) is currently 114.50%.

About Public Storage

Public Storage is a real estate investment trust that owns, operates and develops self-storage facilities in the United States. The company provides customers with storage units for household goods, business inventory, vehicles and other personal or commercial belongings.

Its facilities offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, electronic gate access and online account management. Public Storage also provides related services, including tenant insurance options and moving and packing supplies at select locations.

Founded in 1972 and headquartered in Glendale, California, Public Storage serves customers through a nationwide network of self-storage properties.

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