JPMorgan Chase & Co. Raises Stake in Public Storage $PSA

JPMorgan Chase & Co. lifted its position in shares of Public Storage (NYSE:PSA) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,391,561 shares of the real estate investment trust’s stock after purchasing an additional 57,073 shares during the quarter. JPMorgan Chase & Co.’s holdings in Public Storage were worth $880,110,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage during the 3rd quarter worth about $27,000. Raiffeisen Bank International AG purchased a new stake in shares of Public Storage during the 3rd quarter worth about $30,000. Wealth Watch Advisors INC purchased a new stake in shares of Public Storage during the 3rd quarter worth about $34,000. Knuff & Co LLC purchased a new stake in shares of Public Storage during the 4th quarter worth about $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Public Storage by 2,940.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 147 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 equities analysts have weighed in on PSA shares. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a report on Tuesday, April 21st. Jefferies Financial Group upped their price target on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. UBS Group upped their price target on Public Storage from $276.00 to $314.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Scotiabank upped their price target on Public Storage from $321.00 to $340.00 in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Public Storage has an average rating of “Hold” and an average target price of $316.67.

Public Storage Stock Up 3.7%

NYSE PSA opened at $322.60 on Wednesday. The stock has a market cap of $56.63 billion, a PE ratio of 33.29, a P/E/G ratio of 4.24 and a beta of 0.98. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $324.56. The business has a 50 day moving average price of $300.07 and a two-hundred day moving average price of $287.69. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.Public Storage’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, sell-side analysts predict that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $3.00 dividend. 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 Monday, June 15th. Public Storage’s dividend payout ratio is presently 123.84%.

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.