KBC Group NV Buys 4,348 Shares of Public Storage $PSA

KBC Group NV increased its stake in Public Storage (NYSE:PSA) by 3.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 134,041 shares of the real estate investment trust’s stock after purchasing an additional 4,348 shares during the quarter. KBC Group NV’s holdings in Public Storage were worth $36,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PSA. Vanguard Group Inc. raised its position in Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after acquiring an additional 2,274,397 shares in the last quarter. Norges Bank acquired a new stake in Public Storage in the fourth quarter valued at $1,163,751,000. Capital International Investors grew its position in shares of Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after acquiring an additional 3,686,211 shares during the period. Geode Capital Management LLC grew its position in shares of Public Storage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock valued at $1,056,976,000 after acquiring an additional 66,445 shares during the period. Finally, Cohen & Steers Inc. increased its stake in shares of Public Storage by 9.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after purchasing an additional 339,882 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

Shares of PSA stock opened at $315.50 on Tuesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a 50-day moving average of $314.35 and a 200-day moving average of $298.58. Public Storage has a one year low of $256.54 and a one year high of $331.79. The company has a market cap of $55.39 billion, a P/E ratio of 32.56, a P/E/G ratio of 4.28 and a beta of 0.96.

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

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, June 15th. Public Storage’s payout ratio is presently 123.84%.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays reissued an “equal weight” rating and issued a $349.00 target price on shares of Public Storage in a report on Friday, July 10th. Royal Bank Of Canada increased their price target on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $341.00 price objective on shares of Public Storage in a research note on Wednesday, April 29th. Truist Financial boosted their price objective on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Mizuho upped their target price on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, Public Storage has an average rating of “Hold” and an average price target of $325.37.

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.