Oppenheimer Asset Management Inc. Invests $2.91 Million in Public Storage $PSA

Oppenheimer Asset Management Inc. bought a new position in Public Storage (NYSE:PSA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,156 shares of the real estate investment trust’s stock, valued at approximately $2,914,000.

Other institutional investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC raised its stake in Public Storage by 89.6% during the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 43 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage during the 3rd quarter valued at $27,000. Bayban purchased a new stake in shares of Public Storage during the 4th quarter valued at $26,000. Wealth Watch Advisors INC acquired a new stake in shares of Public Storage during the 3rd quarter worth $34,000. Finally, Raiffeisen Bank International AG increased its holdings in shares of Public Storage by 35.2% during the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 37 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

PSA stock opened at $325.99 on Friday. The stock’s 50 day moving average is $322.15 and its two-hundred day moving average is $304.57. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55. The company has a market capitalization of $57.25 billion, a PE ratio of 31.11, a P/E/G ratio of 3.84 and a beta of 0.96. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business posted $4.28 EPS. The business’s revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts predict that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be paid 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 is Tuesday, September 15th. Public Storage’s dividend payout ratio is 114.50%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSA. BMO Capital Markets increased their target price on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. upped their price target on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Mizuho raised their price objective on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $341.00 price objective on shares of Public Storage in a research note on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Public Storage has an average rating of “Hold” and a consensus target price of $326.05.

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.