CIBC Asset Management Inc Purchases 4,730 Shares of Public Storage $PSA

Key Points

• CIBC Asset Management increased its stake in Public Storage by 4.2% in the fourth quarter, buying 4,730 additional shares and bringing its total holdings to 118,340 shares worth about $30.7 million.
• Public Storage reported better-than-expected quarterly earnings of $2.71 per share, topping analyst estimates, while revenue came in roughly in line at $1.22 billion.
• The company declared a quarterly dividend of $3.00 per share, equal to a $12.00 annualized payout and a 4.0% yield, though its dividend payout ratio is high at 123.84%.

CIBC Asset Management Inc grew its position in shares of Public Storage (NYSE:PSA - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 118,340 shares of the real estate investment trust's stock after acquiring an additional 4,730 shares during the quarter. CIBC Asset Management Inc owned about 0.07% of Public Storage worth $30,707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC lifted its position in Public Storage by 25.3% in 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 buying an additional 3,763 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in Public Storage by 57.5% in the third quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust's stock worth $1,437,000 after buying an additional 1,816 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Public Storage by 19.9% in the third quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust's stock worth $11,766,000 after buying an additional 6,814 shares during the last quarter. Barclays PLC lifted its position in Public Storage by 93.8% in the third quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust's stock worth $174,165,000 after buying an additional 291,895 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Public Storage by 35.9% in the third quarter. Advisors Asset Management Inc. now owns 14,158 shares of the real estate investment trust's stock worth $4,090,000 after buying an additional 3,741 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Performance

PSA stock opened at $302.48 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The business's fifty day simple moving average is $296.46 and its two-hundred day simple moving average is $286.50. Public Storage has a twelve month low of $256.54 and a twelve month high of $313.51. The firm has a market cap of $53.10 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 4.08 and a beta of 0.98.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $4.12 earnings per share. The business's revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. Public Storage's dividend payout ratio (DPR) is presently 123.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PSA. Wall Street Zen upgraded Public Storage from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Public Storage in a research report on Tuesday, April 21st. BNP Paribas Exane raised their price target on Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 22nd. Wells Fargo & Company downgraded Public Storage from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $330.00 to $295.00 in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada raised their price target on Public Storage from $301.00 to $305.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $316.06.

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.

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