Oppenheimer Asset Management Inc. Buys Shares of 9,156 Public Storage $PSA

Key Points

• Oppenheimer Asset Management initiated a position in Public Storage, purchasing 9,156 shares valued at approximately $2.9 million. Institutional investors and hedge funds collectively own 78.79% of PSA.
• Analyst sentiment remains mixed, with seven Buy ratings and 14 Holds; the average price target is $326.05, while recent targets range from $316 to $363.
• Public Storage exceeded quarterly EPS estimates, reporting $4.17 versus the $2.53 consensus, and declared a quarterly dividend of $3.00, representing a 3.7% annualized yield.

Oppenheimer Asset Management Inc. bought a new position in shares of Public Storage (NYSE:PSA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 9,156 shares of the real estate investment trust's stock, valued at approximately $2,914,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC grew its position in Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust's stock worth $954,000 after buying an additional 373 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Public Storage during the 2nd quarter valued at approximately $929,000. Nebula Research & Development LLC acquired a new stake in shares of Public Storage during the 2nd quarter valued at approximately $1,113,000. Treasurer of the State of North Carolina boosted its stake in shares of Public Storage by 1.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust's stock worth $21,647,000 after acquiring an additional 1,390 shares in the last quarter. Finally, Ieq Capital LLC boosted its stake in shares of Public Storage by 219.8% during the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust's stock worth $14,140,000 after acquiring an additional 33,122 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on 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 document filed with the SEC, which is available at this link. 11.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PSA shares. Truist Financial raised their price objective on Public Storage from $302.00 to $338.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Evercore set a $316.00 target price on Public Storage in a research report on Monday, July 6th. Citigroup upped their target price on Public Storage from $325.00 to $363.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Royal Bank Of Canada raised their price target on Public Storage from $305.00 to $318.00 and gave the company a "sector perform" rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Public Storage from $291.00 to $338.00 and gave the stock a "neutral" rating in a research note on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $326.05.

Public Storage Price Performance

NYSE:PSA opened at $325.99 on Friday. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The firm has a market cap of $57.25 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 3.84 and a beta of 0.96. The company's 50-day moving average is $322.15 and its two-hundred day moving average is $304.57. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06.

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 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $1.64. The business had revenue of $1.23 billion during 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 period in the previous year, the firm posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Research analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders 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 yield of 3.7%. Public Storage's payout ratio is 114.50%.

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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