SEB Asset Management AB Makes New $26.10 Million Investment in Public Storage $PSA

Key Points

• SEB Asset Management AB opened a new position in Public Storage during the first quarter, buying 96,358 shares valued at about $26.1 million.
• Public Storage reported better-than-expected quarterly earnings of $2.71 per share, while revenue matched estimates at $1.22 billion and the company reiterated FY 2026 EPS guidance of 16.35 to 17.00.
• The REIT also paid a quarterly dividend of $3.00 per share, equivalent to an annualized yield of 3.8%, even as its payout ratio remains elevated at 123.84%.

SEB Asset Management AB purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 96,358 shares of the real estate investment trust's stock, valued at approximately $26,101,000. SEB Asset Management AB owned about 0.05% of Public Storage as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Bayban bought a new position in Public Storage during the fourth quarter worth $26,000. Harvest Fund Management Co. Ltd acquired a new position in Public Storage during the 3rd quarter valued at $27,000. Wealth Watch Advisors INC bought a new stake in Public Storage in the 3rd quarter valued at $34,000. Raiffeisen Bank International AG boosted its holdings in Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 37 shares during the period. Finally, Knuff & Co LLC acquired a new stake in Public Storage in the 4th quarter worth $38,000. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Up 0.1%

Shares of PSA stock opened at $318.33 on Monday. The firm has a fifty day moving average of $314.27 and a 200-day moving average of $298.20. The stock has a market cap of $55.88 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 4.28 and a beta of 0.96. Public Storage has a 52-week low of $256.54 and a 52-week 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 issued its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. The business 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 revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities research analysts forecast that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $3.00 per share. The ex-dividend date was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. Public Storage's dividend payout ratio (DPR) is currently 123.84%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PSA shares. BMO Capital Markets upped their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a research report on Monday, June 15th. Mizuho lifted their target price on Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. BNP Paribas Exane boosted their price target on Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. Scotiabank upped their price target on Public Storage from $342.00 to $345.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. raised their price objective on Public Storage from $291.00 to $338.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage presently has an average rating of "Hold" and an average price target of $325.37.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction 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. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.10% of the company's stock.

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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