8,000 Shares in Public Storage $PSA Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Public Storage (NYSE:PSA) during the 1st quarter, Holdings Channel reports. The fund acquired 8,000 shares of the real estate investment trust’s stock, valued at approximately $2,167,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC grew its stake in shares of 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 worth $4,829,000 after buying an additional 3,763 shares during the last quarter. Barclays PLC boosted its holdings in shares of Public Storage by 93.8% during the 3rd quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust’s stock valued at $174,165,000 after acquiring an additional 291,895 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Public Storage by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock worth $118,576,000 after acquiring an additional 25,353 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in 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 worth $75,171,000 after acquiring an additional 9,618 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Public Storage by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock valued at $63,838,000 after purchasing an additional 12,444 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Barclays dropped their price objective on shares of Public Storage from $352.00 to $349.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. William Blair set a $305.00 target price on shares of Public Storage in a report on Monday, March 16th. Evercore upped their price target on shares of Public Storage from $317.00 to $318.00 in a research report on Tuesday, June 23rd. Finally, BMO Capital Markets raised their price target on shares of Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $324.68.

Public Storage Stock Down 0.0%

Shares of Public Storage stock opened at $324.33 on Tuesday. The firm has a market cap of $56.94 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 4.36 and a beta of 0.98. The stock’s 50-day moving average is $309.65 and its 200 day moving average is $292.53. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. Public Storage has a one year low of $256.54 and a one year high of $331.79.

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

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, June 15th. Public Storage’s payout ratio is presently 123.84%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.10% of the stock is owned by insiders.

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.