VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Holdings in Public Storage $PSA

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Public Storage (NYSE:PSA) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 227,857 shares of the real estate investment trust’s stock, valued at approximately $72,529,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSA. California State Teachers Retirement System grew its holdings in shares of Public Storage by 30,482.4% during the second quarter. California State Teachers Retirement System now owns 77,538,088 shares of the real estate investment trust’s stock valued at $24,681,149,000 after buying an additional 77,284,550 shares in the last quarter. BlackRock Inc. acquired a new stake in Public Storage during the 2nd quarter worth about $5,495,077,000. Norges Bank purchased a new position in Public Storage during the 4th quarter valued at about $1,163,751,000. Capital International Investors increased its holdings in shares of Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after purchasing an additional 3,686,211 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of Public Storage in the second quarter worth approximately $601,650,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

PSA stock opened at $301.83 on Monday. 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 company has a market capitalization of $53.01 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 4.11 and a beta of 0.95. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The firm has a 50 day moving average of $320.62 and a two-hundred day moving average of $307.86.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping the consensus estimate of $2.53 by $1.64. The company 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 quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities analysts anticipate that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is presently 114.50%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PSA. UBS Group upped their price objective on shares of Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. BNP Paribas Exane upped their price target on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. BMO Capital Markets increased their price objective on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Truist Financial increased their price objective on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, Public Storage has an average rating of “Hold” and a consensus target price of $327.00.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’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 document filed with the SEC, which is available through the SEC website. 11.10% of the stock is owned by insiders.

About Public Storage

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.