Lasalle Investment Management Securities LLC Acquires 4,670 Shares of Public Storage $PSA

Key Points

• Lasalle Investment Management Securities LLC increased its stake in Public Storage by 1.0% in the first quarter, buying 4,670 more shares and bringing its total to 484,663 shares worth about $131.3 million.
• Public Storage reported better-than-expected quarterly earnings of $2.71 per share, topping estimates by $0.29, while revenue came in line at $1.22 billion.
• The company recently paid a $3.00 quarterly dividend and now offers an annualized payout of $12.00 per share, though its dividend payout ratio is high at 123.84%.

Lasalle Investment Management Securities LLC lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 484,663 shares of the real estate investment trust's stock after buying an additional 4,670 shares during the quarter. Public Storage comprises 5.2% of Lasalle Investment Management Securities LLC's portfolio, making the stock its 4th biggest holding. Lasalle Investment Management Securities LLC owned about 0.28% of Public Storage worth $131,286,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. ABN Amro Investment Solutions increased its position in Public Storage by 10.7% in the 1st quarter. ABN Amro Investment Solutions now owns 8,623 shares of the real estate investment trust's stock valued at $2,336,000 after acquiring an additional 836 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Public Storage during the first quarter worth approximately $76,000. Johnson Financial Group Inc. lifted its position in shares of Public Storage by 12.9% during the first quarter. Johnson Financial Group Inc. now owns 7,639 shares of the real estate investment trust's stock worth $2,069,000 after purchasing an additional 873 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Public Storage by 1.6% during the first quarter. Meeder Advisory Services Inc. now owns 2,794 shares of the real estate investment trust's stock worth $757,000 after purchasing an additional 44 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Public Storage by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,280,540 shares of the real estate investment trust's stock valued at $617,720,000 after purchasing an additional 67,787 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 950 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the transaction, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by corporate insiders.

Public Storage Stock Up 0.7%

Shares of NYSE:PSA opened at $311.80 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $54.74 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 4.17 and a beta of 0.96. The company has a 50 day moving average of $314.47 and a 200-day moving average of $299.30. Public Storage has a one year low of $256.54 and a one year high of $331.79.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business posted $4.12 earnings per share. Public Storage's revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, sell-side analysts forecast that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. Public Storage's dividend payout ratio is 123.84%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PSA. Citigroup boosted their price objective on shares of Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. The Goldman Sachs Group reiterated a "buy" rating and issued a $341.00 price objective on shares of Public Storage in a research report on Wednesday, April 29th. BMO Capital Markets lifted their target price on Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a research note on Monday, June 15th. Raymond James Financial initiated coverage on Public Storage in a research report on Thursday, July 16th. They set a "market perform" rating for the company. Finally, Mizuho boosted their target price on Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research report 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 MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $325.37.

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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