Haverford Trust Co Invests $1.29 Million in Public Storage $PSA

Haverford Trust Co acquired a new position in shares of Public Storage (NYSE:PSA) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,066 shares of the real estate investment trust’s stock, valued at approximately $1,294,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC boosted its position in shares of Public Storage by 25.3% during the 4th 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 purchasing an additional 3,763 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Public Storage by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock valued at $75,171,000 after purchasing an additional 9,618 shares during the period. 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 period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Public Storage by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock valued at $118,576,000 after purchasing an additional 25,353 shares during the period. Finally, Legal & General Group Plc lifted its stake in Public Storage by 4.5% during the fourth quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust’s stock worth $506,487,000 after purchasing an additional 83,916 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

Public Storage stock opened at $322.76 on Friday. The firm has a market cap of $56.68 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The company’s 50 day moving average is $322.35 and its two-hundred day moving average is $306.22.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating the consensus estimate of $2.53 by $1.64. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, research analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s dividend payout ratio is 114.50%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. 11.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group raised their price target on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Raymond James Financial assumed coverage on Public Storage in a report on Thursday, July 16th. They issued a “market perform” rating on the stock. Barclays increased their target price on Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday. BNP Paribas Exane raised their target price on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Finally, Royal Bank Of Canada lifted their target price on Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $326.16.

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.