ExodusPoint Capital Management LP Makes New $19.05 Million Investment in Public Storage $PSA

ExodusPoint Capital Management LP bought a new stake in shares of Public Storage (NYSE:PSA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 73,418 shares of the real estate investment trust’s stock, valued at approximately $19,052,000.

A number of other large investors have also recently modified their holdings of PSA. Vanguard Group Inc. boosted its stake 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 purchased a new position in Public Storage in the fourth quarter worth about $1,163,751,000. Capital International Investors raised its holdings in Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after buying an additional 3,686,211 shares during the last quarter. Geode Capital Management LLC raised its holdings in Public Storage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after buying an additional 66,445 shares during the last quarter. Finally, Cohen & Steers Inc. raised its holdings in Public Storage by 9.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after buying an additional 339,882 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Evercore lifted their target price on shares of Public Storage from $306.00 to $317.00 in a report on Monday, June 8th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. UBS Group lifted their target price on shares of Public Storage from $276.00 to $314.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Finally, Scotiabank lifted their target price on shares of Public Storage from $321.00 to $340.00 in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $323.42.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Public Storage Stock Down 0.2%

Shares of PSA stock opened at $320.28 on Wednesday. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The stock has a market cap of $56.23 billion, a P/E ratio of 33.05, a P/E/G ratio of 4.38 and a beta of 0.98. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a 50 day simple moving average of $304.93 and a two-hundred day simple moving average of $289.56.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company earned $4.12 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, research analysts expect that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 yield of 3.7%. The ex-dividend date of this dividend is Monday, June 15th. 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.