Johnson Financial Group Inc. Acquires Shares of 8,362 Public Storage $PSA

Key Points

• Johnson Financial Group acquired 8,362 Public Storage shares worth approximately $2.66 million in the second quarter. Institutional investors collectively own 78.79% of PSA, with Vanguard, BlackRock, Norges Bank and others holding major positions.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $326.16. PSA recently traded at $325.37, near its 12-month high of $335.55.
• Public Storage reported quarterly EPS of $4.17, exceeding estimates of $2.53, while revenue reached $1.23 billion. The REIT also announced a $3.00 quarterly dividend, equivalent to a 3.7% yield and $12.00 annualized payout.

Johnson Financial Group Inc. bought a new position in shares of Public Storage (NYSE:PSA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,362 shares of the real estate investment trust's stock, valued at approximately $2,662,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Public Storage by 9.9% during the 4th 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 during the period. BlackRock Inc. acquired a new position in Public Storage in the second quarter valued at $5,495,077,000. Norges Bank purchased a new stake in shares of Public Storage in the fourth quarter valued at about $1,163,751,000. Capital International Investors raised its holdings 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 valued at $1,073,032,000 after buying an additional 3,686,211 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Public Storage by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust's stock worth $1,056,976,000 after buying an additional 66,445 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSA. BMO Capital Markets raised their price target on Public Storage from $305.00 to $340.00 and gave the stock a "market perform" rating in a report on Monday, June 15th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $341.00 price objective on shares of Public Storage in a research report on Wednesday, April 29th. BNP Paribas Exane lifted their target price on Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. boosted their target price on Public Storage from $291.00 to $338.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Finally, Wall Street Zen upgraded Public Storage from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $326.16.

Public Storage Stock Performance

NYSE PSA opened at $325.37 on Thursday. The stock has a market capitalization of $57.14 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 3.81 and a beta of 0.96. The business's 50 day moving average is $322.45 and its two-hundred day moving average is $305.77. 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 posted its quarterly 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. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the firm earned $4.28 EPS. The company's quarterly 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. Research analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The business also recently announced 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. This represents a $12.00 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage's dividend payout ratio is presently 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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