Strs Ohio Has $33.74 Million Stake in Public Storage $PSA

Key Points

• Strs Ohio increased its Public Storage stake by 12.8% in the first quarter, adding 14,115 shares and bringing its total holding to 124,570 shares worth about $33.74 million.
• Public Storage’s insider activity included a notable sale, with insider Nathaniel A. Vitan selling 950 shares on June 12, reducing his ownership by 40.19%.
• Analysts remain mixed but generally cautious: the stock has an average “Hold” rating with a consensus price target of $324.68, while Public Storage recently beat quarterly EPS estimates and pays a $3.00 quarterly dividend yielding 3.6%.

Strs Ohio lifted its position in shares of Public Storage (NYSE:PSA - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124,570 shares of the real estate investment trust's stock after acquiring an additional 14,115 shares during the period. Strs Ohio owned approximately 0.07% of Public Storage worth $33,744,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PSA. Bayban acquired a new position in Public Storage during the fourth quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Public Storage in the 3rd quarter valued at $27,000. Wealth Watch Advisors INC bought a new position in shares of Public Storage in the 3rd quarter valued at $34,000. Raiffeisen Bank International AG increased its stake in shares of 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 last quarter. Finally, Knuff & Co LLC bought a new position in shares of Public Storage in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PSA has been the topic of several research analyst reports. Truist Financial raised their price objective on Public Storage from $302.00 to $338.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Mizuho boosted their target price on Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Evercore increased their target price on shares of Public Storage from $317.00 to $318.00 in a report on Tuesday, June 23rd. Royal Bank Of Canada raised their price target on shares of Public Storage from $301.00 to $305.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 29th. Finally, William Blair set a $305.00 price target on shares of Public Storage in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $324.68.

Public Storage Stock Down 0.1%

Shares of NYSE PSA opened at $329.25 on Friday. The company has a 50 day simple moving average of $310.97 and a 200 day simple moving average of $293.88. 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 has a 1 year low of $256.54 and a 1 year high of $331.79. The firm has a market cap of $57.80 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 4.43 and a beta of 0.96.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the firm posted $4.12 EPS. The company's revenue for the quarter was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, research analysts forecast that Public Storage will post 16.94 EPS for the current 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 paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.6%. 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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