Louisiana State Employees Retirement System Invests $2.17 Million in Public Storage $PSA

Key Points

• Louisiana State Employees Retirement System initiated a new position in Public Storage, buying 8,000 shares valued at about $2.17 million in the first quarter.
• Several other institutional investors also added to their stakes, while institutions as a group now own 78.79% of Public Storage shares.
• Analysts remain mixed overall: despite multiple buy target increases, the stock’s average rating is still Hold with an average price target of $324.68.

Louisiana State Employees Retirement System bought a new position in shares of Public Storage (NYSE:PSA - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,000 shares of the real estate investment trust's stock, valued at approximately $2,167,000.

Other large investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its holdings in shares of Public Storage by 72.2% during the first quarter. Kestra Private Wealth Services LLC now owns 7,526 shares of the real estate investment trust's stock worth $2,039,000 after acquiring an additional 3,155 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Public Storage by 12.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,487 shares of the real estate investment trust's stock worth $674,000 after purchasing an additional 266 shares during the period. OP Asset Management Ltd bought a new position in shares of Public Storage during the first quarter worth approximately $7,698,000. Banque Cantonale Vaudoise lifted its holdings in Public Storage by 45.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 5,291 shares of the real estate investment trust's stock worth $1,433,000 after purchasing an additional 1,651 shares during the last quarter. Finally, Apella Capital LLC bought a new stake in Public Storage in the 1st quarter valued at $183,000. Institutional investors own 78.79% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on PSA. Evercore upped their price objective on Public Storage from $317.00 to $318.00 in a report on Tuesday, June 23rd. Citigroup lifted their target price on Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th. Truist Financial boosted their target price on shares of Public Storage from $302.00 to $338.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. BNP Paribas Exane upped their price target on shares of Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $341.00 price target on shares of Public Storage in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $324.68.

Public Storage Price Performance

Shares of NYSE PSA opened at $324.33 on Tuesday. The stock has a market capitalization of $56.94 billion, a PE ratio of 33.47, a P/E/G ratio of 4.36 and a beta of 0.98. 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 business has a fifty day moving average price of $309.65 and a two-hundred day moving average price of $292.53. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts' consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company posted $4.12 EPS. The company'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. As a group, equities analysts predict that Public Storage will post 16.94 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, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, June 15th. Public Storage's dividend payout ratio is presently 123.84%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were 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 of the company's stock, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.10% of the stock is currently owned by corporate insiders.

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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