Purpose Unlimited Inc. Takes $467,000 Position in Public Storage $PSA

Purpose Unlimited Inc. acquired a new position in Public Storage (NYSE:PSA) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,801 shares of the real estate investment trust’s stock, valued at approximately $467,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Norges Bank purchased a new position in Public Storage in the 4th quarter worth approximately $1,163,751,000. Capital International Investors grew its holdings in Public Storage by 821.4% during the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after buying an additional 3,686,211 shares in the last quarter. Vanguard Group Inc. grew its holdings in Public Storage by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after buying an additional 2,274,397 shares in the last quarter. First Trust Advisors LP raised its position in shares of Public Storage by 287.7% during the fourth quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock valued at $187,252,000 after buying an additional 535,465 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after buying an additional 481,872 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA stock opened at $318.12 on Monday. The stock has a 50 day moving average price of $306.88 and a 200 day moving average price of $290.47. Public Storage has a 52-week low of $256.54 and a 52-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. The firm has a market capitalization of $55.85 billion, a P/E ratio of 32.83, a P/E/G ratio of 4.28 and a beta of 0.98.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $4.12 EPS. Public Storage’s quarterly revenue was down .1% on a year-over-year basis. 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 16.94 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently declared 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. The ex-dividend date is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. Public Storage’s dividend payout ratio is presently 123.84%.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of analyst reports. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Barclays cut their price objective on shares of Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada raised their target price on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Finally, BNP Paribas Exane lifted their price target on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $323.53.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the transaction, the insider owned 1,414 shares of the company’s stock, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.10% of the company’s stock.

Public Storage 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.