Public Storage $PSA Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Public Storage stake by 77.3 million shares in the second quarter, bringing its ownership to approximately 44.15% of the REIT. Institutional investors collectively own 78.79% of the stock.
• Public Storage reported quarterly EPS of $4.17, exceeding estimates of $2.53, while revenue reached $1.23 billion, essentially matching forecasts but declining 0.5% year over year.
• Analysts maintain a broadly neutral outlook, with seven Buy ratings and fourteen Holds, producing an average rating of “Hold” and a $327 price target. The company also declared a quarterly dividend of $3.00 per share, representing a 4.0% annualized yield.

California State Teachers Retirement System increased its stake in Public Storage (NYSE:PSA - Free Report) by 30,482.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,538,088 shares of the real estate investment trust's stock after acquiring an additional 77,284,550 shares during the quarter. California State Teachers Retirement System owned approximately 44.15% of Public Storage worth $24,681,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Public Storage during the 2nd quarter worth about $5,495,077,000. Norges Bank acquired a new stake in Public Storage in the 4th quarter worth about $1,163,751,000. Capital International Investors increased its stake in Public Storage by 821.4% during the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust's stock worth $1,073,032,000 after buying an additional 3,686,211 shares in the last quarter. Legal & General Group Plc purchased a new stake in Public Storage during the 2nd quarter worth approximately $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Public Storage during the second quarter valued at approximately $558,904,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business'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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BNP Paribas Exane raised their target price on Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a research report on Friday, May 22nd. Royal Bank Of Canada lifted their target price on shares of Public Storage from $305.00 to $318.00 and gave the stock a "sector perform" rating in a research note on Friday, July 31st. Truist Financial upped their target price on shares of Public Storage from $302.00 to $338.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Citigroup increased their target price on shares of Public Storage from $325.00 to $363.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Finally, BMO Capital Markets raised their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a "market perform" rating in a research note on Monday, June 15th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $327.00.

Public Storage Stock Performance

NYSE PSA opened at $301.83 on Tuesday. 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 stock's fifty day moving average is $320.17 and its two-hundred day moving average is $307.86. The firm has a market capitalization of $53.01 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55.

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, topping the consensus estimate of $2.53 by $1.64. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, research analysts anticipate that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently disclosed 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. This represents a $12.00 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, September 15th. Public Storage's dividend payout ratio (DPR) 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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