Commerce Bank Buys New Stake in Public Storage $PSA

Key Points

• Commerce Bank acquired 48,588 shares of Public Storage in the second quarter, valued at approximately $15.5 million. Other institutional investors also initiated positions, and institutions and hedge funds collectively own 78.79% of PSA.
• Public Storage reported quarterly EPS of $4.17, well above the $2.53 consensus estimate, while revenue reached $1.23 billion but declined 0.5% year over year. The company set fiscal 2026 EPS guidance at $16.75–$17.05.
• The REIT declared a quarterly dividend of $3.00 per share, equivalent to $12.00 annually and a 3.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $326.16.

Commerce Bank purchased a new position in Public Storage (NYSE:PSA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 48,588 shares of the real estate investment trust's stock, valued at approximately $15,466,000.

A number of other large investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. purchased a new position in Public Storage during the 2nd quarter worth $10,326,000. Evolve Private Wealth LLC purchased a new stake in Public Storage in the second quarter valued at about $268,000. Westpac Banking Corp purchased a new stake in Public Storage in the second quarter valued at about $489,000. Sumitomo Life Insurance Co. acquired a new stake in Public Storage in the second quarter worth about $438,000. Finally, Korea Investment CORP purchased a new stake in shares of Public Storage during the second quarter worth about $26,042,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Up 0.0%

Public Storage stock opened at $322.76 on Friday. The firm has a market cap of $56.68 billion, a PE ratio of 30.80, a P/E/G ratio of 3.80 and a beta of 0.96. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The stock's 50 day simple moving average is $322.35 and its two-hundred day simple moving average is $306.22. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the business posted $4.28 EPS. The business'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. Analysts anticipate that Public Storage will post 16.93 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, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. Public Storage's dividend payout ratio (DPR) is 114.50%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PSA shares. Barclays upped their price target on shares of Public Storage from $349.00 to $350.00 and gave the company an "equal weight" rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a report on Monday, June 15th. BNP Paribas Exane upped their target price on Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a research report on Friday, May 22nd. Royal Bank Of Canada raised their target price on Public Storage from $305.00 to $318.00 and gave the stock a "sector perform" rating in a research note on Friday, July 31st. Finally, 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. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $326.16.

Insider Activity at Public Storage

In related 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.10% of the stock is owned by company insiders.

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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