Rakuten Investment Management Inc. Purchases New Holdings in Public Storage $PSA

Rakuten Investment Management Inc. acquired a new position in shares of Public Storage (NYSE:PSA) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 25,841 shares of the real estate investment trust’s stock, valued at approximately $8,384,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PSA. Empowered Funds LLC grew its position in Public Storage by 13.3% in the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after buying an additional 373 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Public Storage during the 2nd quarter worth $929,000. Nebula Research & Development LLC purchased a new position in Public Storage during the 2nd quarter worth $1,113,000. Treasurer of the State of North Carolina lifted its stake in shares of Public Storage by 1.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock worth $21,647,000 after acquiring an additional 1,390 shares during the period. Finally, Ieq Capital LLC lifted its stake in shares of Public Storage by 219.8% in the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock worth $14,140,000 after acquiring an additional 33,122 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Trading Up 0.8%

Shares of PSA stock 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 stock has a market cap of $55.08 billion, a P/E ratio of 29.93, a P/E/G ratio of 3.69 and a beta of 0.96. The business has a fifty day simple moving average of $322.34 and a 200-day simple moving average of $307.48. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06.

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

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. 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 payout ratio is presently 114.50%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSA. Raymond James Financial began coverage on shares of Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating on the stock. UBS Group raised their price objective on shares of Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Jefferies Financial Group lifted their price objective on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Royal Bank Of Canada increased their target price on Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $326.16.

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.