Flputnam Investment Management Co. Invests $26.26 Million in Public Storage $PSA

Flputnam Investment Management Co. bought a new stake in Public Storage (NYSE:PSA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 82,510 shares of the real estate investment trust's stock, valued at approximately $26,264,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bayban purchased a new position in shares of Public Storage during the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd acquired a new position in Public Storage during the third quarter worth $27,000. Bruce G. Allen Investments LLC boosted its position in Public Storage by 89.6% during the second 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 in the last quarter. Wealth Watch Advisors INC purchased a new stake in Public Storage during the third quarter worth $34,000. Finally, Raiffeisen Bank International AG boosted its position in shares of Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock worth $37,000 after buying an additional 37 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the SEC, which is available through this link. 11.10% of the stock is owned by corporate insiders.

Public Storage Stock Performance

Public Storage stock opened at $325.99 on Monday. The stock's 50 day moving average price is $322.15 and its 200 day moving average price is $304.75. The firm has a market capitalization of $57.25 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 3.84 and a beta of 0.96. 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 one year low of $256.54 and a one year high of $335.55.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $1.64. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.Public Storage's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage's dividend payout ratio is currently 114.50%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PSA. UBS Group increased their target price on Public Storage from $314.00 to $326.00 and gave the company a "neutral" rating in a report on Friday, July 10th. Royal Bank Of Canada raised their target price on shares of Public Storage from $305.00 to $318.00 and gave the stock a "sector perform" rating in a research report on Friday, July 31st. Truist Financial increased their price target on Public Storage from $302.00 to $338.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Raymond James Financial assumed coverage on Public Storage in a research note on Thursday, July 16th. They issued a "market perform" rating on the stock. Finally, Weiss Ratings upgraded shares of Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 12th. Seven 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 stock currently has an average rating of "Hold" and an average target price of $326.05.

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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