Longfellow Investment Management Co. LLC Takes Position in Public Storage $PSA

Longfellow Investment Management Co. LLC purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,997 shares of the real estate investment trust's stock, valued at approximately $3,182,000. Public Storage accounts for about 0.7% of Longfellow Investment Management Co. LLC's investment portfolio, making the stock its 29th biggest position.

Several other hedge funds have also made changes to their positions in PSA. Bruce G. Allen Investments LLC grew its stake in Public Storage by 89.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust's stock worth $29,000 after buying an additional 43 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Public Storage during the third quarter valued at $27,000. Bayban bought a new position in shares of Public Storage during the fourth quarter worth about $26,000. Wealth Watch Advisors INC acquired a new stake in shares of Public Storage in the 3rd quarter worth about $34,000. Finally, Raiffeisen Bank International AG lifted its position in Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $325.99 on Monday. The stock has a market cap of $57.25 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 3.84 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 stock's 50 day moving average price is $322.15 and its 200 day moving average price is $304.75.

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

Public Storage Dividend Announcement

The company 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 $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage's dividend payout ratio is 114.50%.

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 dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 11.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PSA has been the subject of several recent analyst reports. The Goldman Sachs Group restated a "buy" rating and issued a $341.00 target price on shares of Public Storage in a research report on Wednesday, April 29th. Weiss Ratings raised Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 12th. Jefferies Financial Group lifted their target price on Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Truist Financial boosted their price target on Public Storage from $302.00 to $338.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Finally, Barclays reiterated an "equal weight" rating and set a $349.00 price target on shares of Public Storage in a research report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $326.05.

About Public Storage

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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