Adelante Capital Management LLC Buys New Position in Public Storage $PSA

Adelante Capital Management LLC bought a new position in Public Storage (NYSE:PSA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 245,064 shares of the real estate investment trust's stock, valued at approximately $10,347,000. Adelante Capital Management LLC owned 0.14% of Public Storage as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Bayban purchased a new position in shares of Public Storage in the 4th quarter worth about $26,000. Harvest Fund Management Co. Ltd purchased a new position in Public Storage in the third quarter valued at approximately $27,000. Bruce G. Allen Investments LLC raised its holdings in Public Storage by 89.6% in the second 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 period. Wealth Watch Advisors INC acquired a new position in Public Storage during the third quarter valued at approximately $34,000. Finally, Meeder Asset Management Inc. purchased a new stake in Public Storage during the second quarter worth approximately $36,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PSA shares. Weiss Ratings raised Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 12th. Mizuho boosted their target price on shares of Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Jefferies Financial Group raised their price target on shares of Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Evercore set a $316.00 price objective on shares of Public Storage in a report on Monday, July 6th. Finally, BMO Capital Markets raised their target price on Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a research note on Monday, June 15th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $326.16.

Public Storage Trading Down 1.7%

Public Storage stock opened at $317.25 on Thursday. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $322.57 and a 200-day simple moving average of $307.26. The stock has a market capitalization of $55.72 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96.

Public Storage (NYSE:PSA - Get Free Report) last issued its 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 business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the firm posted $4.28 EPS. The company's quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities research analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. Public Storage's dividend payout ratio is presently 114.50%.

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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