OVERSEA CHINESE BANKING Corp Ltd Invests $4.06 Million in Public Storage $PSA

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Public Storage (NYSE:PSA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,754 shares of the real estate investment trust’s stock, valued at approximately $4,060,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Public Storage during the 2nd quarter valued at about $5,495,077,000. Norges Bank acquired a new position in shares of Public Storage in the fourth quarter valued at about $1,163,751,000. Capital International Investors raised its stake in shares of Public Storage by 821.4% in the fourth 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 last quarter. Vanguard Group Inc. raised its stake in shares of Public Storage by 9.9% in the fourth 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 last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Public Storage during the second quarter worth about $400,776,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSA. BMO Capital Markets upped 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. Truist Financial lifted their price objective on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Citigroup upped their price objective on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. UBS Group increased their price objective on shares of Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Finally, Jefferies Financial Group raised their target price 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. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Public Storage has an average rating of “Hold” and an average target price of $326.16.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is currently owned by company insiders.

Public Storage Stock Down 0.6%

Shares of PSA opened at $323.27 on Friday. The company has a market capitalization of $56.77 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 3.83 and a beta of 0.96. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The stock’s 50-day moving average price is $322.41 and its 200-day moving average price is $306.11. 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 announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share 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 last year, the business earned $4.28 earnings per share. Public Storage’s quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, sell-side analysts predict that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s payout ratio is 114.50%.

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.