Pictet Asset Management Holding SA Buys 5,560 Shares of Public Storage $PSA

Key Points

• Pictet Asset Management Holding SA increased its Public Storage stake by 7.7% in the second quarter, buying 5,560 shares to hold 77,971 shares valued at approximately $24.8 million. Institutional investors collectively own 78.79% of PSA.
• Public Storage reported quarterly EPS of $4.17, exceeding the $2.53 consensus estimate, while revenue reached $1.23 billion and declined 0.5% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $326.05.
• The REIT declared a quarterly dividend of $3.00 per share, equivalent to $12.00 annually and a 3.7% yield. Separately, insider Nathaniel A. Vitan sold 1,414 shares for approximately $463,000.

Pictet Asset Management Holding SA increased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,971 shares of the real estate investment trust's stock after purchasing an additional 5,560 shares during the quarter. Pictet Asset Management Holding SA's holdings in Public Storage were worth $24,819,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PSA. Assetmark Inc. grew its stake in Public Storage by 4.0% in the second quarter. Assetmark Inc. now owns 3,799 shares of the real estate investment trust's stock valued at $1,209,000 after purchasing an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Public Storage by 3.0% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,406 shares of the real estate investment trust's stock valued at $1,721,000 after buying an additional 155 shares during the last quarter. Diversify Wealth Management LLC lifted its position in shares of Public Storage by 74.3% during the second quarter. Diversify Wealth Management LLC now owns 6,371 shares of the real estate investment trust's stock valued at $2,064,000 after buying an additional 2,716 shares during the last quarter. Ethic Inc. boosted its holdings in shares of Public Storage by 4.5% in the 2nd quarter. Ethic Inc. now owns 14,016 shares of the real estate investment trust's stock valued at $4,462,000 after buying an additional 605 shares in the last quarter. Finally, Chesapeake Capital Corp IL boosted its holdings in shares of Public Storage by 1.3% in the 2nd quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust's stock valued at $953,000 after buying an additional 38 shares in the last quarter. Institutional investors own 78.79% of the company's stock.

Insider Activity 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group restated a "buy" rating and set a $341.00 price objective on shares of Public Storage in a report on Wednesday, April 29th. Mizuho lifted their target price on shares of Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Barclays reissued an "equal weight" rating and set a $349.00 target price on shares of Public Storage in a research report on Friday, July 10th. BMO Capital Markets upped their price target on shares of Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a research note on Monday, June 15th. Finally, BNP Paribas Exane raised their price target on shares of Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Public Storage presently has a consensus rating of "Hold" and an average target price of $326.05.

Public Storage Trading Down 0.8%

NYSE PSA opened at $325.99 on Friday. The company has a market capitalization of $57.25 billion, a PE ratio of 31.11, a P/E/G ratio of 3.87 and a beta of 0.96. The company has a fifty day moving average of $322.15 and a 200 day moving average of $304.57. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. 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 (NYSE:PSA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating the consensus estimate of $2.53 by $1.64. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The firm's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Research analysts forecast that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

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