6,056 Shares in Public Storage $PSA Bought by Dockside LLC

Key Points

• Dockside LLC purchased 6,056 Public Storage shares in the second quarter, valued at approximately $1.93 million. Institutional investors collectively own 78.79% of the REIT.
• Public Storage reported quarterly EPS of $4.17, exceeding estimates of $2.53, while revenue was $1.23 billion, down 0.5% year over year. The company’s FY 2026 EPS guidance is $16.75–$17.05.
• The company declared a quarterly dividend of $3.00 per share, or $12.00 annualized, representing a 3.7% yield. Analysts have a consensus “Hold” rating and an average price target of $326.05.

Dockside LLC bought a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,056 shares of the real estate investment trust's stock, valued at approximately $1,928,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC raised its stake in shares of Public Storage by 89.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 43 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage in the third quarter worth about $27,000. Bayban purchased a new stake in shares of Public Storage in the fourth quarter worth about $26,000. Wealth Watch Advisors INC acquired a new stake in Public Storage during the third quarter worth about $34,000. Finally, Raiffeisen Bank International AG grew its holdings in Public Storage by 35.2% during the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 37 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Performance

NYSE PSA opened at $325.99 on Friday. The stock has a market capitalization of $57.25 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 3.87 and a beta of 0.96. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The stock has a 50-day moving average of $322.15 and a 200 day moving average of $304.57.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business posted $4.28 earnings per share. Public Storage's revenue for the quarter was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Sell-side analysts anticipate that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. Public Storage's dividend payout ratio (DPR) is 114.50%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PSA shares. Jefferies Financial Group boosted their price target on Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Scotiabank raised their price objective on shares of Public Storage from $342.00 to $345.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 12th. The Goldman Sachs Group reiterated a "buy" rating and issued a $341.00 target price on shares of Public Storage in a research note on Wednesday, April 29th. Finally, Raymond James Financial initiated coverage on shares of Public Storage in a report on Thursday, July 16th. They set a "market perform" rating on the stock. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $326.05.

Insider Activity

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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.10% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source