Globeflex Capital L P Takes Position in Public Storage $PSA

Key Points

• Globeflex Capital bought 46,820 shares of Public Storage in the second quarter, valued at approximately $3.69 million. Institutional investors and hedge funds collectively own 78.79% of PSA.
• Analyst sentiment remains mixed: seven analysts rate PSA a Buy and 14 rate it a Hold, producing a consensus Hold rating and an average price target of $326.16.
• Public Storage reported quarterly EPS of $4.17, surpassing the $2.53 consensus estimate, and announced a quarterly dividend of $3.00 per share, equivalent to a 3.7% annualized yield.

Globeflex Capital L P purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 46,820 shares of the real estate investment trust's stock, valued at approximately $3,689,000.

Other large investors have also recently added to or reduced their stakes in the company. Bayban acquired a new position in shares of Public Storage during the fourth quarter worth about $26,000. Harvest Fund Management Co. Ltd acquired a new position in Public Storage during the 3rd quarter worth approximately $27,000. Bruce G. Allen Investments LLC boosted its holdings in Public Storage by 89.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 43 shares during the period. Wealth Watch Advisors INC acquired a new stake in Public Storage in the third quarter valued at approximately $34,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Public Storage during the second quarter valued at approximately $36,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Public Storage from $325.00 to $363.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Royal Bank Of Canada upped their price objective on shares of Public Storage from $305.00 to $318.00 and gave the company a "sector perform" rating in a research report on Friday, July 31st. Raymond James Financial assumed coverage on Public Storage in a research note on Thursday, July 16th. They set a "market perform" rating for the company. Jefferies Financial Group lifted 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. Finally, Mizuho boosted their price target on Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $326.16.

Public Storage Trading Up 0.1%

NYSE PSA opened at $322.76 on Monday. The company has a market capitalization of $56.68 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The company's fifty day moving average price is $322.35 and its two-hundred day moving average price is $306.46.

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

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued 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 of this dividend is Tuesday, September 15th. Public Storage's dividend payout ratio (DPR) is currently 114.50%.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the business's stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.10% of the company's stock.

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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