RB Capital Management LLC Purchases Shares of 3,708 Public Storage $PSA

RB Capital Management LLC purchased a new stake in Public Storage (NYSE:PSA) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,708 shares of the real estate investment trust’s stock, valued at approximately $1,180,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSA. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Public Storage by 25.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after purchasing an additional 3,763 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Public Storage during the second quarter valued at approximately $195,808,000. Nomura Asset Management Co. Ltd. increased its holdings in Public Storage by 3.4% during 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 buying an additional 9,618 shares during the period. Principal Financial Group Inc. raised its stake 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 worth $63,838,000 after buying an additional 12,444 shares in the last quarter. Finally, Globeflex Capital L P purchased a new stake in Public Storage during the second quarter worth $3,689,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the subject of several recent research reports. Barclays boosted their price target on Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 19th. 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. 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 note on Friday, July 31st. Evercore set a $316.00 target price on shares of Public Storage in a report on Monday, July 6th. Finally, Jefferies Financial Group increased their price target on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Hold” and an average target price of $326.16.

Insiders Place Their Bets

In other 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 sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 11.10% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA opened at $313.65 on Friday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $55.08 billion, a PE ratio of 29.93, a P/E/G ratio of 3.67 and a beta of 0.96. The business has a 50-day simple moving average of $322.34 and a two-hundred day simple moving average of $307.48.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping analysts’ consensus estimates 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%. Public Storage’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. Public Storage’s dividend payout ratio (DPR) is 114.50%.

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.