Caisse de depot et placement du Quebec Takes Position in Public Storage $PSA

Caisse de depot et placement du Quebec bought a new position in Public Storage (NYSE:PSA) during the second quarter, Holdings Channel reports. The firm bought 205,286 shares of the real estate investment trust’s stock, valued at approximately $65,345,000.

A number of other hedge funds have also recently modified their holdings of PSA. First Bancorp Inc ME purchased a new position in Public Storage during the second quarter valued at approximately $123,000. Jupiter Topco LLC purchased a new stake in Public Storage in the 2nd quarter worth approximately $69,461,000. Hsbc Holdings PLC purchased a new stake in Public Storage in the 2nd quarter worth approximately $195,808,000. Ancora Advisors LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth approximately $67,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Public Storage during the 2nd quarter worth approximately $96,288,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Transactions at Public Storage

In other 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 value of $463,127.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.10% of the stock is currently owned by insiders.

Public Storage Trading Down 1.9%

Shares of PSA stock opened at $311.27 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $54.67 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 3.74 and a beta of 0.96. The stock has a 50 day simple moving average of $322.43 and a 200-day simple moving average of $307.43. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company earned $4.28 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities research analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 114.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PSA. BNP Paribas Exane lifted their target price on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Mizuho raised their price target on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Jefferies Financial Group lifted their price objective on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Scotiabank upped their price objective on shares of Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, Public Storage has an average rating of “Hold” and an average target price of $326.16.

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.