1,801 Shares in Public Storage $PSA Acquired by Purpose Unlimited Inc.

Purpose Unlimited Inc. bought a new position in Public Storage (NYSE:PSA) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,801 shares of the real estate investment trust’s stock, valued at approximately $467,000.

Other hedge funds have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Public Storage in the third quarter worth $27,000. Bayban purchased a new stake in Public Storage during the fourth quarter valued at $26,000. Raiffeisen Bank International AG bought a new position in Public Storage in the third quarter valued at about $30,000. Wealth Watch Advisors INC bought a new position in Public Storage in the third quarter valued at about $34,000. Finally, Knuff & Co LLC purchased a new position in Public Storage in the fourth quarter worth about $38,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

Shares of PSA opened at $318.12 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The business has a 50-day simple moving average of $306.88 and a two-hundred day simple moving average of $290.47. The stock has a market cap of $55.85 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 4.28 and a beta of 0.98. Public Storage has a 52 week low of $256.54 and a 52 week high of $331.79.

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

Public Storage Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.8%. Public Storage’s payout ratio is currently 123.84%.

Insider Buying and Selling at Public Storage

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 value of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

PSA has been the subject of a number of recent research reports. William Blair set a $305.00 price target on Public Storage in a research note on Monday, March 16th. JPMorgan Chase & Co. increased their price objective on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Jefferies Financial Group raised their price objective on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Mizuho boosted their target price on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Finally, Evercore upped their target price on shares of Public Storage from $306.00 to $317.00 in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $323.53.

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.