Allstate Corp Purchases 7,395 Shares of Public Storage $PSA

Allstate Corp raised its position in Public Storage (NYSE:PSA) by 87.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,874 shares of the real estate investment trust’s stock after acquiring an additional 7,395 shares during the period. Allstate Corp’s holdings in Public Storage were worth $4,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Public Storage by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after purchasing an additional 2,274,397 shares during the period. JPMorgan Chase & Co. grew its position in Public Storage by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock worth $963,177,000 after buying an additional 177,421 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Public Storage by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,194,212 shares of the real estate investment trust’s stock worth $633,796,000 after buying an additional 49,996 shares in the last quarter. APG Asset Management US Inc. grew its position in Public Storage by 0.7% during the third quarter. APG Asset Management US Inc. now owns 2,184,979 shares of the real estate investment trust’s stock worth $635,130,000 after buying an additional 14,367 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Public Storage by 4.5% during the fourth quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust’s stock worth $506,487,000 after buying an additional 83,916 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays reduced their target price on Public Storage from $352.00 to $349.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. BMO Capital Markets restated a “market perform” rating on shares of Public Storage in a research report on Monday, March 16th. BNP Paribas Exane boosted their target price on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 target price for the company. in a research report on Thursday, February 5th. Finally, Scotiabank boosted their target price on Public Storage from $321.00 to $340.00 in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $316.06.

Public Storage Price Performance

PSA opened at $307.01 on Thursday. The stock has a market capitalization of $53.89 billion, a P/E ratio of 31.68, a PEG ratio of 4.16 and a beta of 1.00. Public Storage has a 12-month low of $256.54 and a 12-month high of $313.51. The stock has a 50-day moving average price of $293.80 and a 200-day moving average price of $285.56. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.Public Storage’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities analysts predict that Public Storage will post 16.89 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.9%. Public Storage’s dividend payout ratio is currently 123.84%.

Public Storage Company 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.