Vise Technologies Inc. acquired a new position in Public Storage (NYSE:PSA – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,152 shares of the real estate investment trust’s stock, valued at approximately $685,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC boosted its stake in shares of Public Storage by 89.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 43 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the third quarter valued at approximately $27,000. Bayban purchased a new stake in shares of Public Storage during the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new stake in shares of Public Storage during the second quarter valued at approximately $36,000. Finally, Wealth Watch Advisors INC bought a new stake in Public Storage during the third quarter worth $34,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.
Analysts Set New Price Targets
PSA has been the topic of several research analyst reports. BMO Capital Markets boosted their price objective on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Citigroup raised their target price on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Barclays lifted their target price on Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Truist Financial boosted their price target on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, BNP Paribas Exane increased their price target on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $326.16.
Insider Buying and Selling at Public Storage
In other news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.10% of the company’s stock.
Public Storage Trading Up 0.1%
NYSE:PSA opened at $322.76 on Monday. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The firm’s 50 day moving average is $322.35 and its 200 day moving average is $306.46. The stock has a market capitalization of $56.68 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96.
Public Storage (NYSE:PSA – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company earned $4.28 earnings per share. Public Storage’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. Sell-side analysts expect that Public Storage will post 16.93 earnings per share for the current year.
Public Storage Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is currently 114.50%.
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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