Public Employees Retirement System of Ohio Makes New $79.28 Million Investment in Public Storage $PSA

Public Employees Retirement System of Ohio purchased a new stake in Public Storage (NYSE:PSA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 249,069 shares of the real estate investment trust's stock, valued at approximately $79,281,000. Public Employees Retirement System of Ohio owned approximately 0.14% of Public Storage as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bayban purchased a new position in Public Storage in the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd purchased a new position in Public Storage in the 3rd quarter worth $27,000. Bruce G. Allen Investments LLC lifted its stake in Public Storage by 89.6% in the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Wealth Watch Advisors INC bought a new position in shares of Public Storage during the third quarter valued at about $34,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Public Storage in the 2nd quarter valued at about $36,000. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PSA. 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 report on Friday, July 10th. Mizuho increased their price objective on Public Storage from $301.00 to $316.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Citigroup raised their target price on shares of Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th. Jefferies Financial Group lifted their target price on shares of Public Storage from $350.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Finally, BNP Paribas Exane upped their price target on shares of Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of "Hold" and an average price target of $326.16.

Public Storage Price Performance

Shares of Public Storage stock opened at $311.27 on Friday. The business has a 50 day moving average of $322.43 and a 200 day moving average of $307.43. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The company has a market cap of $54.67 billion, a PE ratio of 29.70, a P/E/G ratio of 3.74 and a beta of 0.96. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the business posted $4.28 earnings per share. The firm'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. As a group, equities research analysts forecast that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage's payout ratio is currently 114.50%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is currently owned by insiders.

Public Storage Company 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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