Commerzbank Aktiengesellschaft FI acquired a new position in Public Storage (NYSE:PSA – Free Report) during the 2nd quarter, Holdings Channel reports. The firm acquired 2,698 shares of the real estate investment trust’s stock, valued at approximately $859,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC increased its holdings in Public Storage by 2.2% during the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 34 shares during the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Public Storage by 2.6% in the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 36 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Public Storage by 1.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares in the last quarter. Raiffeisen Bank International AG raised 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 worth $37,000 after purchasing an additional 37 shares during the period. Finally, Chesapeake Capital Corp IL raised its holdings in Public Storage by 1.3% in the 2nd quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock worth $953,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on PSA shares. BMO Capital Markets lifted their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research note on Monday, June 15th. Royal Bank Of Canada upped their price objective on Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Truist Financial raised their price target on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Finally, Citigroup raised their price objective on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $326.11.
Insider Buying and Selling at Public Storage
In other news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is owned by insiders.
Public Storage Stock Down 0.1%
Public Storage stock opened at $323.95 on Wednesday. The business has a fifty day moving average of $322.44 and a two-hundred day moving average of $305.43. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The firm has a market cap of $56.89 billion, a P/E ratio of 30.91, a P/E/G ratio of 3.84 and a beta of 0.96. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55.
Public Storage (NYSE:PSA – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share 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 business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the business earned $4.28 EPS. The company’s revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, analysts forecast that Public Storage will post 16.93 earnings per share for the current fiscal year.
Public Storage Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s dividend payout ratio is currently 114.50%.
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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