Saudi Central Bank Has $3.52 Million Stake in Public Storage $PSA

Key Points

• Saudi Central Bank increased its Public Storage stake by 89.7% in the second quarter, holding 11,059 shares worth approximately $3.52 million. Institutional investors and hedge funds collectively own 78.79% of PSA.
• Analysts raised several price targets, but the overall consensus remains “Hold”, with seven Buy ratings and fourteen Hold ratings and an average target price of $327.
• Public Storage reported quarterly EPS of $4.17, well above the $2.53 consensus estimate, while revenue was $1.23 billion. The company declared a $3 quarterly dividend, equivalent to $12 annually and a 4.0% yield.

Saudi Central Bank increased its holdings in Public Storage (NYSE:PSA - Free Report) by 89.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,059 shares of the real estate investment trust's stock after acquiring an additional 5,230 shares during the period. Saudi Central Bank's holdings in Public Storage were worth $3,520,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Public Storage in the second quarter worth $5,495,077,000. Norges Bank acquired a new stake in Public Storage in the 4th quarter worth approximately $1,163,751,000. Capital International Investors boosted its holdings in shares of 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 during the period. Legal & General Group Plc acquired a new stake in shares of Public Storage in the second quarter valued at about $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Public Storage in the second quarter valued at approximately $558,904,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Analysts Set New Price Targets

PSA has been the topic of a number of recent research reports. BNP Paribas Exane lifted their target price on Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 22nd. Truist Financial lifted their target price on shares of Public Storage from $302.00 to $338.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Jefferies Financial Group upped their price target on shares of Public Storage from $350.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Barclays boosted their target price on Public Storage from $349.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Public Storage from $291.00 to $338.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $327.00.

Public Storage Stock Down 0.1%

PSA stock opened at $301.83 on Monday. The company has a market cap of $53.01 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 4.11 and a beta of 0.95. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The business has a 50 day moving average price of $320.62 and a two-hundred day moving average price of $307.86. 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 announced 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 company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm posted $4.28 EPS. The company'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 anticipate that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, September 15th. Public Storage's dividend payout ratio is 114.50%.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the 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 legal filing with the SEC, which is available through this link. Insiders own 11.10% of the company's stock.

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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