OP Asset Management Ltd Purchases Shares of 28,417 Public Storage $PSA

Key Points

• OP Asset Management opened a new position in Public Storage, buying 28,417 shares valued at about $7.7 million in the first quarter.
• Public Storage reported Q1 earnings of $2.71 per share, topping Wall Street estimates, while revenue came in line at $1.22 billion. The company also issued FY2026 EPS guidance of 16.35 to 17.00.
• The REIT declared a quarterly dividend of $3.00 per share, equal to an annualized payout of $12.00 and a 3.8% yield. However, its dividend payout ratio is currently 123.84%.

OP Asset Management Ltd acquired a new position in shares of Public Storage (NYSE:PSA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,417 shares of the real estate investment trust's stock, valued at approximately $7,698,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. 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 valued at $1,433,000 after purchasing an additional 1,651 shares during the last quarter. Apella Capital LLC bought a new stake in Public Storage during the first quarter worth about $183,000. Weaver Capital Management LLC grew its stake in Public Storage by 33.6% during the first quarter. Weaver Capital Management LLC now owns 8,424 shares of the real estate investment trust's stock worth $2,282,000 after buying an additional 2,118 shares during the last quarter. Sara Bay Financial bought a new position in shares of Public Storage in the first quarter valued at approximately $288,000. Finally, Baker Ellis Asset Management LLC raised its stake in shares of Public Storage by 3.1% in the first quarter. Baker Ellis Asset Management LLC now owns 18,212 shares of the real estate investment trust's stock valued at $4,933,000 after acquiring an additional 550 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

PSA stock opened at $319.75 on Friday. 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 company has a 50 day moving average price of $308.71 and a 200 day moving average price of $291.73. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79. The stock has a market capitalization of $56.13 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 4.28 and a beta of 0.98.

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 EPS for the quarter, beating analysts' consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business's quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Analysts forecast that Public Storage will post 16.94 EPS for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.8%. Public Storage's dividend payout ratio (DPR) is currently 123.84%.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PSA. UBS Group reaffirmed a "neutral" rating on shares of Public Storage in a report on Monday. Royal Bank Of Canada increased their target price on Public Storage from $301.00 to $305.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 29th. Weiss Ratings upgraded Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 12th. Evercore lifted their price target on Public Storage from $317.00 to $318.00 in a report on Tuesday. Finally, Mizuho upped their price target on shares of Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $324.68.

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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