Clare Market Investments LLC Purchases New Shares in Public Storage $PSA

Clare Market Investments LLC acquired a new stake in Public Storage (NYSE:PSA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,321 shares of the real estate investment trust’s stock, valued at approximately $1,441,000.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Public Storage during the 4th quarter valued at about $1,163,751,000. Capital International Investors raised its holdings in 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 worth $1,073,032,000 after purchasing an additional 3,686,211 shares during the period. Vanguard Group Inc. raised its holdings in Public Storage by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares during the period. First Trust Advisors LP boosted its position in Public Storage by 287.7% during the fourth quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock worth $187,252,000 after purchasing an additional 535,465 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after purchasing an additional 481,872 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 1.3%

PSA stock opened at $328.31 on Tuesday. 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 has a 12-month low of $256.54 and a 12-month high of $331.79. The stock has a market cap of $57.63 billion, a price-to-earnings ratio of 33.86, a PEG ratio of 4.43 and a beta of 0.96. The business’s 50-day moving average is $310.97 and its 200 day moving average is $294.03.

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. The business 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%.The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, sell-side analysts anticipate that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, June 15th. Public Storage’s dividend payout ratio is currently 123.84%.

Analyst Ratings Changes

PSA has been the subject of a number of recent analyst reports. Scotiabank boosted their price objective on Public Storage from $340.00 to $342.00 and gave the company a “sector outperform” rating in a research report on Thursday, June 18th. Jefferies Financial Group increased their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. BMO Capital Markets increased their target price on Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Evercore set a $316.00 price target on shares of Public Storage in a research note on Monday. Finally, William Blair set a $305.00 price target on shares of Public Storage in a report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and an average target price of $324.58.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 11.10% of the company’s stock.

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.