28,900 Shares in Public Storage $PSA Purchased by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. purchased a new stake in shares of Public Storage (NYSE:PSA) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,900 shares of the real estate investment trust’s stock, valued at approximately $7,828,000.

Other hedge funds have also recently bought and sold shares of the company. Bayban acquired a new position in shares of Public Storage during the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $27,000. Wealth Watch Advisors INC acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $34,000. Raiffeisen Bank International AG grew its stake in shares of Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 37 shares in the last quarter. Finally, Knuff & Co LLC bought a new position in shares of Public Storage in the fourth quarter valued at $38,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Up 1.2%

Shares of Public Storage stock opened at $324.46 on Friday. 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 business has a fifty day simple moving average of $309.20 and a two-hundred day simple moving average of $291.96. Public Storage has a 1 year low of $256.54 and a 1 year high of $331.79. The company has a market capitalization of $56.96 billion, a price-to-earnings ratio of 33.48, a P/E/G ratio of 4.36 and a beta of 0.98.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating 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 net margin of 39.16% and a return on equity of 37.78%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Research analysts forecast that Public Storage will post 16.94 EPS for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given 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 3.7%. Public Storage’s dividend payout ratio (DPR) is 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 transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PSA has been the topic of several analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Public Storage in a research report on Monday, June 22nd. Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. 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 report on Thursday, June 11th. Jefferies Financial Group raised their target price on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, BMO Capital Markets lifted their price target on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. One 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 company. According to data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus target price of $324.68.

Public Storage 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.