Korea Investment CORP Makes New $26.04 Million Investment in Public Storage $PSA

Korea Investment CORP bought a new stake in shares of Public Storage (NYSE:PSA) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 81,814 shares of the real estate investment trust’s stock, valued at approximately $26,042,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. EP Wealth Advisors LLC acquired a new position in shares of Public Storage in the 2nd quarter valued at $1,216,000. Heartland Bank & Trust Co bought a new position in shares of Public Storage in the 2nd quarter worth $293,000. Callan Family Office LLC acquired a new stake in shares of Public Storage during the second quarter worth $886,000. Heartland Advisors Inc. acquired a new stake in shares of Public Storage during the second quarter worth $22,123,000. Finally, Blue Capital Inc. bought a new stake in Public Storage in the second quarter valued at about $245,000. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PSA. Jefferies Financial Group increased their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. boosted their target price on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. UBS Group upped their price target on Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Royal Bank Of Canada lifted their price objective on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Seven investment 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, the company has an average rating of “Hold” and a consensus price target of $326.16.

Public Storage Stock Up 0.1%

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 company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The firm has a fifty day moving average of $322.35 and a 200-day moving average of $306.46. The company has a market capitalization of $56.68 billion, a price-to-earnings ratio of 30.80, a P/E/G ratio of 3.80 and a beta of 0.96.

Public Storage (NYSE:PSA) last posted its quarterly earnings data 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. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities research analysts predict that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company 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 $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is 114.50%.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction 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 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.