Groupe la Francaise Makes New Investment in Public Storage $PSA

Key Points

• Groupe La Française acquired 14,916 shares of Public Storage in the second quarter, valued at approximately $4.75 million. Institutional investors collectively own 78.79% of PSA’s outstanding shares.
• Analysts maintain a consensus “Hold” rating with an average price target of $327; Citigroup is among the more bullish firms, assigning a $363 target and “Buy” rating.
• Public Storage reported quarterly EPS of $4.17, exceeding estimates of $2.53, while revenue was $1.23 billion. The REIT declared a quarterly dividend of $3.00 per share, equivalent to a 4.0% annualized yield.

Groupe la Francaise bought a new stake 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 fund bought 14,916 shares of the real estate investment trust's stock, valued at approximately $4,748,000.

Several other hedge funds have also made changes to their positions in the company. Knights of Columbus Asset Advisors LLC increased its position in Public Storage by 25.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust's stock valued at $4,829,000 after purchasing an additional 3,763 shares during the period. Hsbc Holdings PLC bought a new position in shares of Public Storage during the second quarter valued at approximately $195,808,000. Nomura Asset Management Co. Ltd. increased its holdings in Public Storage by 3.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust's stock valued at $75,171,000 after buying an additional 9,618 shares during the period. Legal & General Group Plc increased its holdings in Public Storage by 4.5% during the fourth quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust's stock valued at $506,487,000 after buying an additional 83,916 shares during the period. Finally, Norges Bank purchased a new position in Public Storage during the fourth quarter valued at approximately $1,163,751,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the firm's stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PSA has been the subject of a number of analyst reports. Weiss Ratings upgraded Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 12th. Evercore set a $316.00 price target on Public Storage in a report on Monday, July 6th. Raymond James Financial began coverage on Public Storage in a research report on Thursday, July 16th. They issued a "market perform" rating for the company. Wells Fargo & Company set a $311.00 price objective on Public Storage in a research note on Tuesday, September 1st. Finally, Citigroup raised their price objective on Public Storage from $325.00 to $363.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Seven investment 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 stock presently has a consensus rating of "Hold" and an average target price of $327.00.

Public Storage Trading Down 0.1%

Shares of NYSE:PSA opened at $301.83 on Tuesday. The business's 50-day moving average is $320.17 and its 200 day moving average is $307.86. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. The firm has a market capitalization of $53.01 billion, a P/E ratio of 28.80, a P/E/G ratio of 4.11 and a beta of 0.95. 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 (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. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm earned $4.28 EPS. Public Storage's 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. On average, research analysts predict that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage's payout ratio is 114.50%.

Public Storage 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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