Principal Financial Group Inc. Has $63.55 Million Position in Public Storage $PSA

Principal Financial Group Inc. lessened its stake in shares of Public Storage (NYSE:PSA) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,612 shares of the real estate investment trust’s stock after selling 11,390 shares during the period. Principal Financial Group Inc.’s holdings in Public Storage were worth $63,552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Empowered Funds LLC raised its stake in Public Storage by 13.3% in the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 373 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Public Storage during the second quarter worth about $929,000. Nebula Research & Development LLC acquired a new stake in Public Storage during the second quarter worth about $1,113,000. Treasurer of the State of North Carolina increased its holdings in Public Storage by 1.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock valued at $21,647,000 after buying an additional 1,390 shares during the period. Finally, Ieq Capital LLC raised its position in shares of Public Storage by 219.8% in the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock valued at $14,140,000 after buying an additional 33,122 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PSA shares. Scotiabank upped their price target on shares of Public Storage from $342.00 to $345.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Mizuho lifted their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upped their target price on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Finally, BMO Capital Markets raised their target price on Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a report on Monday, June 15th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $325.37.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.10% of the company’s stock.

Public Storage Stock Up 3.1%

PSA stock opened at $324.37 on Friday. The firm has a 50-day moving average price of $314.12 and a 200-day moving average price of $297.78. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $56.94 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 4.23 and a beta of 0.96.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.29. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts anticipate that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid 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 was Monday, June 15th. Public Storage’s payout ratio is presently 123.84%.

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.