Tobam Grows Holdings in Public Storage $PSA

Tobam boosted its position in shares of Public Storage (NYSE:PSA) by 1,706.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,980 shares of the real estate investment trust’s stock after acquiring an additional 2,815 shares during the period. Tobam’s holdings in Public Storage were worth $773,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PSA. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the third quarter worth approximately $27,000. Raiffeisen Bank International AG bought a new stake in shares of Public Storage during the 3rd quarter valued at $30,000. Wealth Watch Advisors INC bought a new stake in shares of Public Storage during the 3rd quarter valued at $34,000. Knuff & Co LLC purchased a new position in shares of Public Storage during the 4th quarter valued at $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake 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 valued at $39,000 after buying an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $318.12 on Friday. The firm has a market cap of $55.85 billion, a price-to-earnings ratio of 32.83, a P/E/G ratio of 4.33 and a beta of 0.98. The firm has a fifty day moving average price of $306.88 and a 200 day moving average price of $290.33. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. Public Storage’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, sell-side analysts expect that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s payout ratio is 123.84%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the sale, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays cut their price target on Public Storage from $352.00 to $349.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. upped their price objective on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Royal Bank Of Canada increased their target price on Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Finally, Mizuho lifted their target price on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $323.53.

About Public Storage

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.