Groupe la Francaise acquired a new stake in shares of Public Storage (NYSE:PSA – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 14,916 shares of the real estate investment trust’s stock, valued at approximately $4,748,000.
Other large investors have also made changes to their positions in the company. Knights of Columbus Asset Advisors LLC lifted its position in Public Storage by 25.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after purchasing an additional 3,763 shares during the period. Hsbc Holdings PLC acquired a new stake in Public Storage during the 2nd quarter worth about $195,808,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Public Storage by 3.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock valued at $75,171,000 after buying an additional 9,618 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Public Storage by 4.5% during the 4th quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust’s stock valued at $506,487,000 after buying an additional 83,916 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Public Storage in the 4th quarter valued at about $1,163,751,000. 78.79% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PSA has been the topic of a number of recent research reports. Citigroup upped their target price on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Truist Financial lifted their target price on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their target price on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. BNP Paribas Exane increased their price target on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Finally, Raymond James Financial assumed coverage on shares of Public Storage in a research report on Thursday, July 16th. They set a “market perform” rating on the stock. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $327.00.
Public Storage Stock Performance
NYSE PSA opened at $301.83 on Tuesday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. The company has a market cap of $53.01 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 4.11 and a beta of 0.95. The stock’s 50 day simple moving average is $320.17 and its 200-day simple moving average is $307.86.
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 analysts’ consensus estimates of $2.53 by $1.64. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities research analysts anticipate that Public Storage will post 16.93 EPS for the current fiscal year.
Public Storage Announces Dividend
The business 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 $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s dividend payout ratio is 114.50%.
Insider Activity at Public Storage
In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Public Storage
- 3 Under-the-Radar Defense Stocks With Record Backlogs
- This Korea ETF Has Soared, But the Rally May Not Be Over
- Why Guidewire’s Post-Earnings Plunge May Not Last
- Ride-Share Reckoning: Tesla Drives Into Uber’s Lane
Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA – Free Report).
Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.
