Dockside LLC Buys New Shares in Public Storage $PSA

Key Points

• Dockside LLC initiated a new position in Public Storage, buying 8,524 shares in the fourth quarter worth about $2.21 million. The filing also shows institutional ownership remains high, at 78.79%.
• Public Storage reported better-than-expected quarterly earnings of $2.71 per share versus estimates of $2.42, while revenue came in line at $1.22 billion. The company also issued FY 2026 guidance
• The REIT announced a quarterly dividend of $3.00 per share, or $12.00 annually, for a yield of 3.7%. Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $319.28.

Dockside LLC bought a new stake in shares of Public Storage (NYSE:PSA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 8,524 shares of the real estate investment trust's stock, valued at approximately $2,212,000.

A number of other institutional investors also recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust's stock valued at $575,000 after acquiring an additional 37 shares during the period. Raiffeisen Bank International AG lifted its position in shares of Public Storage by 35.2% during the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 37 shares during the period. Doliver Advisors LP lifted its position in shares of Public Storage by 1.0% during the 4th quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust's stock valued at $1,071,000 after acquiring an additional 39 shares during the period. Deseret Mutual Benefit Administrators lifted its position in shares of Public Storage by 14.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 310 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 40 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of Public Storage by 18.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust's stock valued at $75,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Price Performance

PSA opened at $325.83 on Friday. The firm has a market cap of $57.20 billion, a P/E ratio of 33.63, a PEG ratio of 4.44 and a beta of 0.98. The firm has a 50-day moving average of $303.33 and a 200 day moving average of $288.76. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79.

Public Storage (NYSE:PSA - Get Free Report) last issued 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. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company's quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, research analysts expect that Public Storage will post 16.92 EPS 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 given a dividend of $3.00 per share. 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 dividend payout ratio (DPR) is currently 123.84%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a "buy" rating and set a $341.00 target price on shares of Public Storage in a research report on Wednesday, April 29th. William Blair set a $305.00 target price on shares of Public Storage in a research report on Monday, March 16th. Wall Street Zen upgraded shares of 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 note on Tuesday, April 21st. Finally, BNP Paribas Exane boosted their price target on shares of Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $319.28.

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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