SEB Asset Management AB bought a new stake in Public Storage (NYSE:PSA – Free Report) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 96,358 shares of the real estate investment trust’s stock, valued at approximately $26,101,000.
Several other large investors have also made changes to their positions in PSA. Vanguard Group Inc. increased its position in shares of Public Storage by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares in the last quarter. Norges Bank acquired a new position in Public Storage in the fourth quarter valued at about $1,163,751,000. Capital International Investors boosted its position in Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after buying an additional 3,686,211 shares in the last quarter. Geode Capital Management LLC grew its stake in Public Storage by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after buying an additional 66,445 shares during the last quarter. Finally, Cohen & Steers Inc. grew its stake in Public Storage by 9.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after buying an additional 339,882 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Scotiabank increased their price target on Public Storage from $342.00 to $345.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada increased their price target on Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price target on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, BNP Paribas Exane lifted their price objective on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $325.37.
Public Storage Stock Up 0.1%
Shares of NYSE:PSA opened at $318.33 on Monday. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The company’s 50-day moving average price is $314.27 and its two-hundred day moving average price is $298.20. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The firm has a market cap of $55.88 billion, a P/E ratio of 32.85, a P/E/G ratio of 4.28 and a beta of 0.96.
Public Storage (NYSE:PSA – Get Free Report) last posted its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company posted $4.12 EPS. The company’s quarterly 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. As a group, research analysts forecast that Public Storage will post 16.94 EPS for the current fiscal year.
Public Storage Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. Public Storage’s dividend payout ratio (DPR) is currently 123.84%.
Insider Buying and Selling at Public Storage
In related news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider owned 1,414 shares of the company’s stock, valued at $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.10% of the stock is currently owned by corporate insiders.
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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