Public Storage $PSA Stake Raised by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its Public Storage stake by 1.7% in Q4, bringing its holdings to 4.09 million shares valued at about $1.06 billion.
• Public Storage reported Q1 earnings of $2.71 per share, beating estimates, while revenue came in at $1.22 billion, in line with expectations. The company also reaffirmed FY2026 guidance of 16.35 to 17.00 EPS.
• The REIT declared a quarterly dividend of $3.00 per share, or $12.00 annualized, for a 3.9% yield. Analysts currently have a consensus rating of Hold with an average price target of about $316.06.

Geode Capital Management LLC grew its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,089,143 shares of the real estate investment trust's stock after buying an additional 66,445 shares during the period. Geode Capital Management LLC owned 2.33% of Public Storage worth $1,056,976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. raised its holdings 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 buying an additional 37 shares during the last quarter. Doliver Advisors LP raised its holdings in shares of Public Storage by 1.0% during the fourth quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust's stock valued at $1,071,000 after buying an additional 39 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Public Storage by 18.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 41 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Public Storage by 4.7% during the third quarter. Hilltop Holdings Inc. now owns 906 shares of the real estate investment trust's stock valued at $262,000 after buying an additional 41 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Public Storage by 1.1% during the third quarter. Synovus Financial Corp now owns 3,969 shares of the real estate investment trust's stock valued at $1,147,000 after buying an additional 44 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $304.01 on Friday. Public Storage has a 12 month low of $256.54 and a 12 month high of $313.51. The stock has a market cap of $53.37 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 4.22 and a beta of 1.00. The stock's 50 day moving average price is $294.80 and its 200 day moving average price is $285.91. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.29. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities research analysts anticipate that Public Storage will post 16.9 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.9%. Public Storage's payout ratio is 123.84%.

Wall Street Analysts Forecast Growth

PSA has been the topic of several recent analyst reports. William Blair set a $305.00 target price on Public Storage in a report on Monday, March 16th. Royal Bank Of Canada boosted their target price on Public Storage from $301.00 to $305.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 29th. Evercore set a $306.00 target price on Public Storage in a report on Monday, May 4th. Wells Fargo & Company cut Public Storage from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $330.00 to $295.00 in a report on Thursday, February 5th. Finally, Mizuho boosted their target price on Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $316.06.

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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