Global Retirement Partners LLC Takes $1.21 Million Position in Public Storage $PSA

Key Points

• Global Retirement Partners initiated a roughly $1.21 million position in Public Storage during the second quarter by purchasing 3,792 shares. Institutional investors collectively own 78.79% of PSA.
• Analysts maintain a consensus “Hold” rating, with an average price target of $326.05; targets range from $318 to $355. Jefferies is among the firms rating the stock a “Buy.”
• Public Storage reported quarterly EPS of $4.17, beating estimates of $2.53, and declared a $3.00 quarterly dividend, equivalent to a 3.7% annualized yield. Shares opened at $324.34, down 0.5%.

Global Retirement Partners LLC bought a new position in shares of Public Storage (NYSE:PSA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,792 shares of the real estate investment trust's stock, valued at approximately $1,207,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Public Storage in the fourth quarter valued at approximately $1,163,751,000. Capital International Investors raised its stake in shares of Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust's stock worth $1,073,032,000 after acquiring an additional 3,686,211 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust's stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Public Storage in the 2nd quarter valued at $321,799,000. Finally, First Trust Advisors LP raised its position in shares of Public Storage by 287.7% during the fourth quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust's stock worth $187,252,000 after acquiring an additional 535,465 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the firm's 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on PSA. Barclays reiterated an "equal weight" rating and issued a $349.00 price objective on shares of Public Storage in a research report on Friday, July 10th. JPMorgan Chase & Co. upped 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. Wall Street Zen raised Public Storage from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Royal Bank Of Canada upped their price objective on Public Storage from $305.00 to $318.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Finally, Jefferies Financial Group boosted their target price on Public Storage from $350.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $326.05.

Public Storage Trading Down 0.5%

PSA opened at $324.34 on Tuesday. The stock has a market capitalization of $56.96 billion, a P/E ratio of 30.95, a P/E/G ratio of 3.84 and a beta of 0.96. The firm's fifty day simple moving average is $322.41 and its 200 day simple moving average is $305.08. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. 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 released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating the consensus estimate of $2.53 by $1.64. The firm had revenue of $1.23 billion for 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%.The business's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, research analysts anticipate that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

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

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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