Te Ahumairangi Investment Management Ltd Takes $5.05 Million Position in Public Storage $PSA

Te Ahumairangi Investment Management Ltd bought a new position in shares of Public Storage (NYSE:PSA) in the 2nd quarter, Holdings Channel.com reports. The firm bought 15,856 shares of the real estate investment trust’s stock, valued at approximately $5,047,000.

Other large investors also recently added to or reduced their stakes in the company. Bayban bought a new position in shares of Public Storage during the fourth quarter worth $26,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Public Storage during the third quarter valued at about $27,000. Bruce G. Allen Investments LLC increased its holdings in shares of Public Storage by 89.6% in the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Wealth Watch Advisors INC bought a new position in Public Storage during the third quarter valued at approximately $34,000. Finally, Meeder Asset Management Inc. purchased a new position in Public Storage during the 2nd quarter valued at approximately $36,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BNP Paribas Exane increased their target price on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Evercore set a $316.00 price objective on shares of Public Storage in a research note on Monday, July 6th. Jefferies Financial Group upped their target price 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. Mizuho lifted their price target on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upped their price objective on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $326.16.

Public Storage Stock Up 0.1%

Shares of NYSE PSA opened at $322.76 on Monday. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. The firm has a 50-day simple moving average of $322.35 and a two-hundred day simple moving average of $306.46. The company has a market cap of $56.68 billion, a P/E ratio of 30.80, a PEG ratio of 3.80 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business posted $4.28 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Research analysts anticipate that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Dividend Announcement

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

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.