Barrow Hanley Mewhinney & Strauss LLC Invests $558.90 Million in Public Storage $PSA

Barrow Hanley Mewhinney & Strauss LLC bought a new position in Public Storage (NYSE:PSA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,755,849 shares of the real estate investment trust's stock, valued at approximately $558,904,000. Public Storage comprises 1.7% of Barrow Hanley Mewhinney & Strauss LLC's holdings, making the stock its 16th biggest position. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.00% of Public Storage as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Public Storage by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust's stock valued at $6,576,534,000 after acquiring an additional 2,274,397 shares during the period. BlackRock Inc. purchased a new stake in Public Storage during the 2nd quarter worth about $5,495,077,000. Norges Bank bought a new position in Public Storage in the 4th quarter worth about $1,163,751,000. Capital International Investors grew its holdings in Public Storage by 821.4% during the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust's stock valued at $1,073,032,000 after buying an additional 3,686,211 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Public Storage by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust's stock valued at $1,056,976,000 after acquiring an additional 66,445 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Up 0.1%

Shares of NYSE:PSA opened at $322.76 on Monday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $56.68 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The firm has a fifty day moving average of $322.35 and a 200 day moving average of $306.46. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating 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 analysts' expectations of $1.23 billion. During the same period last year, the firm posted $4.28 EPS. Public Storage's revenue for the quarter was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, research 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. Investors of record on Tuesday, September 15th will be issued 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 dividend payout ratio (DPR) is currently 114.50%.

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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSA. Jefferies Financial Group increased their price objective on Public Storage from $350.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Royal Bank Of Canada boosted their target price on Public Storage from $305.00 to $318.00 and gave the stock a "sector perform" rating in a research report on Friday, July 31st. Mizuho upped their target price on Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Barclays raised their price target on Public Storage from $349.00 to $350.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, Truist Financial lifted their price target on Public Storage from $302.00 to $338.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $326.16.

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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