Globeflex Capital L P Invests $3.69 Million in Public Storage $PSA

Globeflex Capital L P purchased a new stake in Public Storage (NYSE:PSA) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 46,820 shares of the real estate investment trust’s stock, valued at approximately $3,689,000.

A number of other institutional investors have also modified their holdings of PSA. Knights of Columbus Asset Advisors LLC boosted its stake in Public Storage by 25.3% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after acquiring an additional 3,763 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Public Storage by 3.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after purchasing an additional 9,618 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Public Storage by 5.3% in the 4th quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock worth $63,838,000 after purchasing an additional 12,444 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Public Storage by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock valued at $118,576,000 after purchasing an additional 25,353 shares during the period. Finally, Legal & General Group Plc boosted its position in Public Storage by 4.5% during the 4th quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust’s stock valued at $506,487,000 after purchasing an additional 83,916 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PSA shares. Royal Bank Of Canada upped their price objective on Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Raymond James Financial initiated coverage on Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating on the stock. Truist Financial boosted their price target on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Evercore set a $316.00 price target on shares of Public Storage in a research report on Monday, July 6th. Finally, Barclays increased their price objective on shares of Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $326.16.

Public Storage Stock Performance

Shares of PSA stock opened at $322.76 on Monday. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The firm has a market capitalization of $56.68 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The business has a 50 day simple moving average of $322.35 and a 200 day simple moving average of $306.46. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66.

Public Storage (NYSE:PSA) last announced its 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the business earned $4.28 EPS. The firm’s revenue for the quarter 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, equities research analysts anticipate that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is 114.50%.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. 11.10% of the stock is currently owned by corporate insiders.

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.