Nykredit A S Takes $17.38 Million Position in Public Storage $PSA

Nykredit A S bought a new position in shares of Public Storage (NYSE:PSA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 54,596 shares of the real estate investment trust’s stock, valued at approximately $17,378,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Public Storage in the 2nd quarter valued at $5,495,077,000. Norges Bank acquired a new stake in shares of Public Storage during the fourth quarter worth $1,163,751,000. Capital International Investors lifted its holdings in shares of Public Storage by 821.4% during 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 buying an additional 3,686,211 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Public Storage in the second quarter valued at about $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Public Storage in the second quarter valued at about $558,904,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Public Storage Stock Down 1.3%

Shares of NYSE PSA opened at $301.83 on Friday. The stock has a market capitalization of $53.01 billion, a P/E ratio of 28.80, a PEG ratio of 4.16 and a beta of 0.95. The stock’s fifty day moving average is $320.62 and its 200 day moving average is $307.81. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping the consensus estimate of $2.53 by $1.64. The business had revenue of $1.23 billion during 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%. Public Storage’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Sell-side analysts forecast that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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 dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is 114.50%.

Analyst Ratings Changes

A number of equities analysts recently commented on PSA shares. Royal Bank Of Canada raised their price target on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Evercore set a $316.00 price objective on shares of Public Storage in a report on Monday, July 6th. Citigroup increased their target price on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Raymond James Financial started coverage on shares of Public Storage in a report on Thursday, July 16th. They set a “market perform” rating on the stock. Finally, Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $327.00.

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.