MidFirst Bank Acquires New Stake in Public Storage $PSA

MidFirst Bank bought a new position in shares of Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,593 shares of the real estate investment trust’s stock, valued at approximately $413,000.

A number of other institutional investors have also added to or reduced their stakes in PSA. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage in the 3rd quarter valued at about $27,000. Raiffeisen Bank International AG purchased a new position in shares of Public Storage during the third quarter worth about $30,000. Wealth Watch Advisors INC bought a new position in shares of Public Storage in the third quarter worth approximately $34,000. Knuff & Co LLC bought a new position in shares of Public Storage in the fourth quarter worth approximately $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Public Storage by 2,940.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 147 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Performance

Shares of NYSE PSA opened at $318.12 on Friday. The stock’s 50-day moving average is $306.88 and its 200 day moving average is $290.33. The stock has a market cap of $55.85 billion, a price-to-earnings ratio of 32.83, a P/E/G ratio of 4.33 and a beta of 0.98. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79. 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 (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm earned $4.12 earnings per share. Public Storage’s revenue for the quarter 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, sell-side analysts anticipate that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, June 15th. Public Storage’s payout ratio is presently 123.84%.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PSA. BMO Capital Markets lifted their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. The Goldman Sachs Group reissued a “buy” rating and issued a $341.00 price target on shares of Public Storage in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. BNP Paribas Exane lifted their price objective on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Finally, Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. 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 stock. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Hold” and a consensus target price of $323.53.

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.