Corient Private Wealth LLC Acquires 6,554 Shares of Public Storage $PSA

Key Points

• Corient Private Wealth LLC increased its stake in Public Storage by 10.8% in the fourth quarter, buying 6,554 more shares and bringing its holdings to 67,196 shares worth about $17.44 million.
• Public Storage is drawing major institutional interest, with firms like Norges Bank, Vanguard, and Capital International Investors also boosting or initiating positions; overall, 78.79% of the stock is institutionally owned.
• The company recently announced a $1.2 billion acquisition of Public Storage Canada, a move seen as a strategic expansion into major Canadian self-storage markets and a potential long-term growth driver.

Corient Private Wealth LLC increased its holdings in Public Storage (NYSE:PSA - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,196 shares of the real estate investment trust's stock after buying an additional 6,554 shares during the quarter. Corient Private Wealth LLC's holdings in Public Storage were worth $17,440,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Public Storage in the fourth quarter worth approximately $1,163,751,000. Capital International Investors grew its position in shares of 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 acquiring an additional 3,686,211 shares during the period. Vanguard Group Inc. grew its position in shares of Public Storage by 9.9% during 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. First Trust Advisors LP increased its stake in shares of Public Storage by 287.7% in the 4th quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust's stock worth $187,252,000 after purchasing an additional 535,465 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Public Storage by 498.7% in the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust's stock worth $166,970,000 after purchasing an additional 481,872 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

More Public Storage News

Here are the key news stories impacting Public Storage this week:

• Positive Sentiment: Public Storage announced it will acquire Public Storage Canada in a roughly $1.2 billion deal, giving it entry into major Canadian self-storage markets and adding 68 properties with room for occupancy and operating improvements. Public Storage to Acquire Public Storage Canada in Strategic Entry into Major Canadian Markets
• Positive Sentiment: Several writeups framed the Canada acquisition as a potentially attractive long-term growth driver, citing consolidation in self-storage, a high-5% going-in NOI yield, and possible efficiency gains. Can Public Storage's $1.2B Canada Acquisition Drive Long-Term Growth?
• Positive Sentiment: Evercore raised its price target on Public Storage slightly to $318 from $317, signaling continued analyst confidence in the stock’s near-term valuation. MarketScreener
• Neutral Sentiment: One report said Public Storage Canada could be sold for about C$1.67 billion, which appears consistent with the company’s announced transaction value but does not add much new information for investors. Public Storage Canada to be sold for $1.67B
• Neutral Sentiment: Analyst commentary on Public Storage and peer Kite Realty Group was published, but the available details did not indicate a major change in outlook beyond general sector monitoring. Analysts Offer Insights on Real Estate Companies: Public Storage (PSA) and Kite Realty Group (KRG)

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 950 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares in the company, valued at $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group reiterated a "neutral" rating on shares of Public Storage in a research report on Monday. Royal Bank Of Canada upped 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. Scotiabank raised their price objective on Public Storage from $340.00 to $342.00 and gave the stock a "sector outperform" rating in a research note on Thursday, June 18th. Mizuho lifted their price objective on Public Storage from $301.00 to $316.00 and gave the company a "neutral" rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen upgraded Public Storage from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $324.68.

Public Storage Trading Up 0.4%

PSA stock opened at $321.37 on Wednesday. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $56.42 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 4.31 and a beta of 0.98. The business has a 50 day simple moving average of $307.97 and a two-hundred day simple moving average of $291.10.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter last year, the business posted $4.12 earnings per share. The company's revenue for the quarter was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Research analysts anticipate that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, June 15th. Public Storage's payout ratio is currently 123.84%.

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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