BlackRock Inc. Makes New Investment in Public Storage $PSA

Key Points

• BlackRock acquired 17.26 million Public Storage shares in the second quarter, valued at approximately $5.5 billion, giving it a 9.83% stake. Institutional investors collectively own 78.79% of PSA.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $326.05; PSA recently traded near $324.34.
• Public Storage exceeded quarterly earnings expectations with $4.17 in EPS, while revenue was $1.23 billion and down 0.5% year over year. The company declared a quarterly dividend of $3.00, equivalent to a 3.7% annualized yield.

BlackRock Inc. acquired a new stake in Public Storage (NYSE:PSA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 17,263,289 shares of the real estate investment trust's stock, valued at approximately $5,495,077,000. BlackRock Inc. owned 9.83% of Public Storage as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PSA. Bayban acquired a new stake in Public Storage during the fourth quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the 3rd quarter worth $27,000. Bruce G. Allen Investments LLC increased its stake in 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 worth $29,000 after acquiring an additional 43 shares during the period. Wealth Watch Advisors INC acquired a new position in Public Storage in the 3rd quarter valued at $34,000. Finally, Raiffeisen Bank International AG raised its holdings in Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PSA. Mizuho increased their target price on Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a report on Wednesday, May 27th. Evercore set a $316.00 price target on Public Storage in a research note on Monday, July 6th. UBS Group boosted their price target on Public Storage from $314.00 to $326.00 and gave the company a "neutral" rating in a research note on Friday, July 10th. Wall Street Zen raised shares of Public Storage from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, Barclays reiterated an "equal weight" rating and set a $349.00 price objective on shares of Public Storage in a research note on Friday, July 10th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $326.05.

Public Storage Stock Down 0.5%

NYSE PSA opened at $324.34 on Tuesday. The business has a fifty day moving average price of $322.41 and a two-hundred day moving average price of $305.08. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55. The stock has a market capitalization of $56.96 billion, a PE ratio of 30.95, a PEG ratio of 3.84 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 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business posted $4.28 EPS. The company's revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities analysts expect that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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

Insiders Place Their Bets

In other Public Storage 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 legal filing with the SEC, which is accessible through this link. 11.10% of the stock is owned by company insiders.

Public Storage Company 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.

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