Public Storage $PSA Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its Public Storage stake by 22.9% in the first quarter, buying 20,223 additional shares and bringing its total to 108,612 shares worth about $29.4 million.
• Several other institutional investors also increased positions in PSA, and overall institutional ownership stands at 78.79%, indicating strong Wall Street interest in the REIT.
• Analysts remain mixed but generally constructive: the stock carries a Hold consensus with an average price target of $325.37, while recent reports included target increases from JPMorgan, BNP Paribas Exane, and Jefferies.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 22.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,612 shares of the real estate investment trust's stock after purchasing an additional 20,223 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.06% of Public Storage worth $29,421,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Public Storage by 13.3% during the 1st 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 in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Public Storage in the second quarter valued at approximately $929,000. Nebula Research & Development LLC acquired a new position in Public Storage during the second quarter worth $1,113,000. Treasurer of the State of North Carolina grew its holdings in Public Storage by 1.9% during the second 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 during the period. Finally, Ieq Capital LLC raised its position in Public Storage by 219.8% in the second 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. Institutional investors and hedge funds own 78.79% of the company's stock.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the sale, the insider directly owned 1,414 shares of the company's stock, valued at approximately $459,281.34. This represents a 40.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.10% of the company's stock.

Analyst Ratings Changes

PSA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on Public Storage from $291.00 to $338.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. BNP Paribas Exane upped their price target on shares of Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 12th. Jefferies Financial Group raised their price objective on shares of Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Finally, Evercore set a $316.00 price objective on shares of Public Storage in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $325.37.

Public Storage Stock Performance

Shares of PSA stock opened at $320.59 on Monday. The stock has a fifty day moving average price of $312.92 and a 200 day moving average price of $296.11. The stock has a market cap of $56.28 billion, a PE ratio of 33.09, a P/E/G ratio of 4.31 and a beta of 0.96. Public Storage has a 1 year low of $256.54 and a 1 year high of $331.79. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping analysts' consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $4.12 earnings per share. Public Storage's quarterly revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Sell-side analysts forecast that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $3.00 dividend. The ex-dividend date was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage's payout ratio is currently 123.84%.

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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