Jupiter Topco LLC Purchases Shares of 218,316 Public Storage $PSA

Key Points

• Jupiter Topco LLC acquired 218,316 shares of Public Storage worth approximately $69.5 million, giving it a 0.12% stake. Institutional investors and hedge funds collectively own 78.79% of PSA.
• Analysts maintain a consensus “Hold” rating with an average price target of $326.16, while PSA recently traded at $311.27. Public Storage exceeded quarterly earnings expectations, reporting $4.17 EPS versus the $2.53 consensus estimate.
• Public Storage declared a quarterly dividend of $3.00 per share, equivalent to $12.00 annually and a 3.9% yield, though its payout ratio stands at 114.5%.

Jupiter Topco LLC acquired a new stake in Public Storage (NYSE:PSA - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 218,316 shares of the real estate investment trust's stock, valued at approximately $69,461,000. Jupiter Topco LLC owned about 0.12% of Public Storage as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the business. Bruce G. Allen Investments LLC grew its position 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 valued at $29,000 after purchasing an additional 43 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the third quarter valued at approximately $27,000. Bayban purchased a new stake in shares of Public Storage during the 4th quarter valued at $26,000. Meeder Asset Management Inc. purchased a new stake in Public Storage during the second quarter worth about $36,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Public Storage during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore set a $316.00 target price on shares of Public Storage in a research note on Monday, July 6th. BMO Capital Markets raised their price target on Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a report on Monday, June 15th. BNP Paribas Exane lifted their price objective on shares of Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a report on Friday, May 22nd. 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 note on Friday, July 31st. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $326.16.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.10% of the company's stock.

Public Storage Stock Performance

PSA opened at $311.27 on Friday. The company's 50 day moving average is $322.43 and its 200 day moving average is $307.43. 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. The company has a market cap of $54.67 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 3.74 and a beta of 0.96.

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, topping the consensus estimate of $2.53 by $1.64. The firm had revenue of $1.23 billion for 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 quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities research analysts predict that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage's dividend payout ratio (DPR) 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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