Raiffeisen Bank International AG Has $2.83 Million Stock Position in Public Storage $PSA

Raiffeisen Bank International AG lifted its stake in shares of Public Storage (NYSE:PSAFree Report) by 153.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,726 shares of the real estate investment trust’s stock after purchasing an additional 5,281 shares during the period. Raiffeisen Bank International AG’s holdings in Public Storage were worth $2,831,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PSA. Bayban acquired a new position in Public Storage during the fourth quarter worth $26,000. Harvest Fund Management Co. Ltd acquired a new stake in Public Storage in the third quarter valued at $27,000. Bruce G. Allen Investments LLC grew its position 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 valued at $29,000 after acquiring an additional 43 shares during the period. Continuum Advisory LLC bought a new position in shares of Public Storage in the 2nd quarter valued at about $29,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Public Storage during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA opened at $301.83 on Friday. The firm has a market cap of $53.01 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 4.16 and a beta of 0.95. The business’s 50 day moving average is $320.62 and its 200-day moving average is $307.81. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage (NYSE:PSAGet Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) 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 the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $4.28 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities research analysts predict that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s payout ratio is presently 114.50%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSA. Royal Bank Of Canada upped their target price on shares of Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Barclays lifted their price target on Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. Raymond James Financial started coverage on Public Storage in a research report on Thursday, July 16th. They set a “market perform” rating on the stock. Citigroup upped their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. raised their price objective on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, Public Storage currently has a consensus rating of “Hold” and an average target price of $327.00.

Check Out Our Latest Analysis on PSA

Insider Activity

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.10% of the company’s stock.

Public Storage Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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