Korea Investment CORP Purchases New Position in Public Storage $PSA

Korea Investment CORP purchased a new stake in Public Storage (NYSE:PSA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 81,814 shares of the real estate investment trust’s stock, valued at approximately $26,042,000.

Several other hedge funds have also recently bought and sold shares of the stock. Empowered Funds LLC boosted its stake in shares of 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 purchasing an additional 373 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Public Storage in the 2nd quarter worth about $929,000. Nebula Research & Development LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth about $1,113,000. Treasurer of the State of North Carolina increased its position in shares of Public Storage by 1.9% during 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 purchasing an additional 1,390 shares in the last quarter. Finally, Ieq Capital LLC lifted its holdings in Public Storage by 219.8% during the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock valued at $14,140,000 after purchasing an additional 33,122 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Up 0.1%

Shares of PSA opened at $322.76 on Monday. The business’s fifty day moving average price is $322.35 and its two-hundred day moving average price is $306.46. The firm has a market capitalization of $56.68 billion, a price-to-earnings ratio of 30.80, a PEG 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 debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company 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 earnings per share. The firm’s quarterly 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 predict that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 114.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Scotiabank boosted their price target on shares of Public Storage from $345.00 to $346.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th. BNP Paribas Exane increased their price target on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Citigroup lifted their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Finally, UBS Group boosted their price objective on Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $326.16.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was 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 through this link. Corporate 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.