Plato Investment Management Ltd acquired a new position in Public Storage (NYSE:PSA - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,458 shares of the real estate investment trust's stock, valued at approximately $1,727,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC grew its holdings in Public Storage by 2.2% during the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust's stock worth $419,000 after acquiring an additional 34 shares during the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust's stock worth $385,000 after acquiring an additional 36 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Public Storage by 1.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust's stock valued at $575,000 after purchasing an additional 37 shares during the last quarter. Raiffeisen Bank International AG increased its holdings in shares of Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Chesapeake Capital Corp IL increased its holdings in shares of Public Storage by 1.3% in the second quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust's stock valued at $953,000 after purchasing an additional 38 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.
Public Storage Stock Down 0.5%
Shares of NYSE:PSA opened at $324.34 on Tuesday. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $56.96 billion, a PE ratio of 30.95, a PEG ratio of 3.84 and a beta of 0.96. The company has a 50 day moving average price of $322.41 and a two-hundred day moving average price of $305.08.
Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the company earned $4.28 EPS. The firm's quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts forecast that Public Storage will post 16.93 earnings per share for the current year.
Public Storage Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 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 of this dividend is Tuesday, September 15th. Public Storage's dividend payout ratio is presently 114.50%.
Insider Buying and Selling
In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the firm's 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 available through the SEC website. Company insiders own 11.10% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on PSA. BNP Paribas Exane boosted their price objective on shares of Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 22nd. BMO Capital Markets upped their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a research report on Monday, June 15th. Scotiabank raised their price target on Public Storage from $342.00 to $345.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Evercore set a $316.00 price objective on Public Storage in a research note on Monday, July 6th. Finally, Citigroup increased their target price on Public Storage from $325.00 to $363.00 and gave the company a "buy" rating in a research note on Tuesday, June 16th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $326.05.
View Our Latest Analysis on Public Storage
Public Storage Profile
(
Free Report)
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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