Osterweis Capital Management Inc. Buys Shares of 20,963 Public Storage $PSA

Key Points

• Osterweis Capital Management initiated a position in Public Storage by purchasing 20,963 shares worth approximately $6.67 million. Institutional investors collectively own 78.79% of the REIT.
• Analysts maintain a generally cautious outlook, with seven Buy ratings and fourteen Hold ratings producing a consensus rating of Hold and an average price target of $326.16.
• Public Storage reported quarterly EPS of $4.17, exceeding estimates of $2.53, while revenue reached $1.23 billion. The company also declared a quarterly dividend of $3.00 per share, representing a 3.7% annualized yield.

Osterweis Capital Management Inc. bought a new position in Public Storage (NYSE:PSA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 20,963 shares of the real estate investment trust's stock, valued at approximately $6,673,000.

Several other hedge funds have also recently modified their holdings of the business. Knights of Columbus Asset Advisors LLC lifted its stake in Public Storage by 25.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust's stock valued at $4,829,000 after acquiring an additional 3,763 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Public Storage by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust's stock worth $75,171,000 after acquiring an additional 9,618 shares during the period. Principal Financial Group Inc. grew its stake in shares of Public Storage by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust's stock worth $63,838,000 after acquiring an additional 12,444 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Public Storage by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust's stock valued at $118,576,000 after purchasing an additional 25,353 shares during the last quarter. Finally, Globeflex Capital L P purchased a new position in shares of Public Storage during the second quarter valued at approximately $3,689,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PSA shares. Scotiabank raised their target price on shares of Public Storage from $345.00 to $346.00 and gave the stock an "outperform" rating in a report on Tuesday, August 18th. Royal Bank Of Canada boosted their target price on shares of Public Storage from $305.00 to $318.00 and gave the company a "sector perform" rating in a research note on Friday, July 31st. Raymond James Financial assumed coverage on Public Storage in a report on Thursday, July 16th. They set a "market perform" rating on the stock. UBS Group raised their price target on Public Storage from $314.00 to $326.00 and gave the stock a "neutral" rating in a research note on Friday, July 10th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $341.00 price objective on shares of Public Storage in a report on Wednesday, April 29th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $326.16.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.10% of the company's stock.

Public Storage Stock Performance

Shares of PSA opened at $324.95 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The business has a 50-day simple moving average of $322.42 and a two-hundred day simple moving average of $306.78. The stock has a market cap of $57.07 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 3.80 and a beta of 0.96. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company earned $4.28 earnings per share. The business's revenue for the quarter was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage's dividend payout ratio (DPR) is presently 114.50%.

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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