Cibc World Market Inc. Takes Position in Public Storage $PSA

Key Points

• Cibc World Market Inc. acquired 44,816 Public Storage shares during the second quarter, worth approximately $14.3 million. Institutional investors and hedge funds collectively own 78.79% of PSA.
• Public Storage reported quarterly adjusted earnings of $4.17 per share, exceeding estimates of $2.53, while revenue reached $1.23 billion and declined 0.5% year over year. The company maintained 2026 EPS guidance of $16.75–$17.05.
• PSA shares opened at $324.95, and the company declared a quarterly dividend of $3.00 per share, equivalent to a 3.7% annualized yield. Analysts have a consensus “Hold” rating with an average price target of $326.16.

Cibc World Market Inc. acquired a new position in shares of Public Storage (NYSE:PSA - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 44,816 shares of the real estate investment trust's stock, valued at approximately $14,265,000.

Several other hedge funds have also made changes to their positions in the business. Bayban purchased a new stake in Public Storage in the fourth quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage during the third quarter valued at approximately $27,000. Bruce G. Allen Investments LLC increased its holdings 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 purchasing an additional 43 shares during the last quarter. Wealth Watch Advisors INC bought a new position in shares of Public Storage during the third quarter worth about $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Public Storage during the second quarter worth $36,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company's 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.10% of the company's stock.

Public Storage Stock Up 0.8%

Shares of NYSE PSA opened at $324.95 on Tuesday. The stock has a market cap of $57.07 billion, a PE ratio of 31.01, a PEG ratio of 3.80 and a beta of 0.96. The business has a fifty day moving average of $322.42 and a two-hundred day moving average of $306.78. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. 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 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 company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company posted $4.28 earnings per share. The firm's quarterly 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. As a group, equities research analysts expect that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business 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. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage's payout ratio is presently 114.50%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Evercore set a $316.00 target price on Public Storage in a research report on Monday, July 6th. Citigroup raised their price objective on shares of Public Storage from $325.00 to $363.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Barclays increased their price target on Public Storage from $349.00 to $350.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 19th. BNP Paribas Exane lifted their target price on Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $341.00 price objective on shares of Public Storage in a report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $326.16.

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