28,417 Shares in Public Storage $PSA Bought by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in Public Storage (NYSE:PSA) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,417 shares of the real estate investment trust’s stock, valued at approximately $7,698,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 37 shares during the period. Raiffeisen Bank International AG raised its position in shares of Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 37 shares during the period. Doliver Advisors LP boosted its stake in Public Storage by 1.0% during the 4th quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust’s stock worth $1,071,000 after acquiring an additional 39 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its stake in Public Storage by 14.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 310 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 40 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Public Storage by 18.8% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 259 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PSA shares. JPMorgan Chase & Co. upped their target price on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Truist Financial boosted their price target on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday. The Goldman Sachs Group restated a “buy” rating and issued a $341.00 price objective on shares of Public Storage in a research report on Wednesday, April 29th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, William Blair set a $305.00 target price on Public Storage in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $324.68.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the sale, the insider directly owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. The trade was a 40.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Public Storage Price Performance

NYSE PSA opened at $319.75 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $56.13 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 4.28 and a beta of 0.98. The business has a 50 day simple moving average of $308.71 and a 200 day simple moving average of $291.73. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Analysts anticipate that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.

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.