Daiichi Life Insurance Co. Ltd. Buys New Shares in Public Storage $PSA

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 3,399 shares of the real estate investment trust's stock, valued at approximately $1,082,000.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC boosted its position in shares of Public Storage by 13.3% during the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust's stock valued at $954,000 after purchasing an additional 373 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Public Storage during the second quarter worth approximately $929,000. Nebula Research & Development LLC bought a new stake in Public Storage in the second quarter worth approximately $1,113,000. Treasurer of the State of North Carolina increased its holdings in Public Storage by 1.9% in the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust's stock worth $21,647,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Ieq Capital LLC increased its holdings in Public Storage by 219.8% in the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust's stock worth $14,140,000 after purchasing an additional 33,122 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Raymond James Financial assumed coverage on Public Storage in a report on Thursday, July 16th. They set a "market perform" rating on the stock. Jefferies Financial Group lifted their price objective on shares of Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Scotiabank boosted their target price on shares of Public Storage from $345.00 to $346.00 and gave the company an "outperform" rating in a research report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their target price on shares of Public Storage from $291.00 to $338.00 and gave the company a "neutral" rating in a research report on Thursday, June 11th. Finally, BMO Capital Markets increased their target price on shares of Public Storage from $305.00 to $340.00 and gave the stock a "market perform" rating in a research note on Monday, June 15th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $326.16.

Public Storage Price Performance

Shares of NYSE:PSA opened at $324.95 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The stock's 50 day moving average is $322.42 and its 200-day moving average is $306.78. The firm has a market capitalization of $57.07 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 3.80 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 (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the business earned $4.28 EPS. Public Storage'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. Sell-side analysts forecast that Public Storage will post 16.93 EPS 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. Shareholders of record on Tuesday, September 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage's dividend payout ratio (DPR) is 114.50%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.10% of the company's stock.

About Public Storage

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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