ProShare Advisors LLC increased its position in Public Storage (NYSE:PSA – Free Report) by 6.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 31,003 shares of the real estate investment trust’s stock after purchasing an additional 2,004 shares during the period. ProShare Advisors LLC’s holdings in Public Storage were worth $8,769,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSA. Vise Technologies Inc. boosted its stake in Public Storage by 34.9% during the third quarter. Vise Technologies Inc. now owns 2,903 shares of the real estate investment trust’s stock valued at $821,000 after buying an additional 751 shares during the last quarter. Cidel Asset Management Inc. bought a new stake in Public Storage in the 3rd quarter worth approximately $220,000. Aprio Wealth Management LLC increased its stake in Public Storage by 17.7% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,532 shares of the real estate investment trust’s stock worth $716,000 after acquiring an additional 380 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in shares of Public Storage during the 3rd quarter worth approximately $651,000. Finally, Peak Financial Advisors LLC purchased a new stake in shares of Public Storage during the 3rd quarter worth approximately $452,000. 78.79% of the stock is owned by institutional investors.
Public Storage Price Performance
NYSE:PSA opened at $342.56 on Thursday. The firm has a market capitalization of $64.00 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 4.93 and a beta of 0.89. Public Storage has a 1 year low of $256.54 and a 1 year high of $343.63. The business has a 50 day simple moving average of $299.62 and a 200-day simple moving average of $303.53. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.00 and a quick ratio of 1.00.
Public Storage (NYSE:PSA – Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). Public Storage had a net margin of 37.76% and a return on equity of 29.93%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $4.31 EPS. The company’s revenue was up .5% on a year-over-year basis. Equities analysts forecast that Public Storage will post 16.97 EPS for the current year.
Public Storage Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Tuesday, December 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, December 15th. Public Storage’s dividend payout ratio is presently 125.65%.
Key Public Storage News
Here are the key news stories impacting Public Storage this week:
- Positive Sentiment: Public Storage declared a fourth-quarter dividend of $3.00 per share, payable January 8, 2027, to shareholders of record December 15. The annualized dividend is $12.00 per share, a yield of about 3.5%. Public Storage Declares Fourth Quarter 2026 Dividends
- Positive Sentiment: PSA recently reached a new 52-week high, indicating strong share-price momentum. Public Storage Reaches a New 52-Week High
- Negative Sentiment: UBS raised its price target to $334 from $294 but kept a “neutral” rating. With PSA trading above that target, the analyst’s view points to limited near-term upside and possible pressure on the shares. UBS Adjusts Price Target on Public Storage
Insider Buying and Selling
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 transaction of $463,127.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 11.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on PSA shares. Mizuho increased their target price on Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. Raymond James Financial initiated coverage on shares of Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating on the stock. Wells Fargo & Company set a $311.00 price target on shares of Public Storage in a research note on Tuesday, September 1st. Truist Financial began coverage on shares of Public Storage in a research note on Friday, October 2nd. They set a “buy” rating and a $317.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Public Storage from $338.00 to $330.00 and set a “neutral” rating for the company in a research report on Monday, September 21st. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, Public Storage currently has an average rating of “Hold” and an average price target of $325.79.
View Our Latest Stock Report on PSA
Public Storage Profile
Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.
Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.
Further Reading
- Five stocks we like better than Public Storage
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
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.
