Wolverine Asset Management LLC Boosts Stake in Public Storage $PSA

Key Points

• Wolverine Asset Management LLC boosted its stake in Public Storage (NYSE:PSA) by 898.2% in Q4, increasing holdings to 11,789 shares valued at about $3.06 million.
• Public Storage reported quarterly EPS of $2.71 (vs. $2.42 expected), set FY2026 guidance of 16.35–17.00 EPS, and posted roughly flat revenue of $1.22 billion year‑over‑year.
• The company pays a quarterly dividend of $3.00 ($12.00 annual, a 4.1% yield with a 123.84% payout ratio); the stock was down ~2% and carries a consensus analyst rating of “Moderate Buy” with a $308.83 price target.

Wolverine Asset Management LLC increased its position in Public Storage (NYSE:PSA - Free Report) by 898.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,789 shares of the real estate investment trust's stock after buying an additional 10,608 shares during the period. Wolverine Asset Management LLC's holdings in Public Storage were worth $3,059,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC raised its position in Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust's stock valued at $164,000 after purchasing an additional 37 shares during the period. Doliver Advisors LP raised its position in 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 purchasing an additional 39 shares during the period. Arkadios Wealth Advisors raised its position in Public Storage by 2.3% during the third quarter. Arkadios Wealth Advisors now owns 1,746 shares of the real estate investment trust's stock valued at $504,000 after purchasing an additional 40 shares during the period. Covestor Ltd raised its position in Public Storage by 9.4% during the third quarter. Covestor Ltd now owns 467 shares of the real estate investment trust's stock valued at $136,000 after purchasing an additional 40 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its position in 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 purchasing an additional 41 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Down 2.0%

Shares of NYSE:PSA opened at $295.54 on Tuesday. Public Storage has a 52-week low of $256.54 and a 52-week high of $313.51. The stock has a market cap of $51.88 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 4.02 and a beta of 1.00. The business's 50 day moving average is $293.63 and its 200 day moving average is $284.39. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data 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. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter in the prior year, the firm earned $4.12 earnings per share. Public Storage's revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Sell-side analysts predict that Public Storage will post 16.88 EPS for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a $3.00 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage's dividend payout ratio is 123.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Public Storage from $295.00 to $291.00 and set a "neutral" rating on the stock in a research report on Monday, March 23rd. Wells Fargo & Company cut Public Storage from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $330.00 to $295.00 in a research note on Thursday, February 5th. Jefferies Financial Group cut their target price on Public Storage from $345.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Public Storage in a research note on Tuesday, April 21st. Finally, Evercore set a $306.00 target price on Public Storage in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $308.83.

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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