SGL Investment Advisors Inc. Buys New Shares in Public Storage $PSA

SGL Investment Advisors Inc. acquired a new stake in shares of Public Storage (NYSE:PSA) in the second quarter, HoldingsChannel reports. The institutional investor acquired 12,560 shares of the real estate investment trust’s stock, valued at approximately $4,091,000.

Other institutional investors have also bought and sold shares of the company. Bayban purchased a new position in Public Storage in the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage during the 3rd quarter worth approximately $27,000. Bruce G. Allen Investments LLC raised its position in shares of Public Storage by 89.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 43 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in Public Storage during the 3rd quarter valued at $34,000. Finally, Meeder Asset Management Inc. bought a new stake in Public Storage in the second quarter worth about $36,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

PSA stock opened at $323.27 on Friday. The business has a fifty day moving average of $322.41 and a two-hundred day moving average of $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. The stock has a market cap of $56.77 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth 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.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $1.64. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. Public Storage’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, research analysts anticipate that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Dividend Announcement

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

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

PSA has been the subject of a number of research reports. Raymond James Financial started coverage on Public Storage in a report on Thursday, July 16th. They issued a “market perform” rating for the company. Scotiabank boosted their price target on Public Storage from $345.00 to $346.00 and gave the company an “outperform” rating in a research note on Tuesday. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Citigroup boosted their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Finally, BMO Capital Markets increased their price objective on Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research note on Monday, June 15th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $326.16.

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.