Empowered Funds LLC Buys New Position in Public Storage $PSA

Empowered Funds LLC purchased a new stake in Public Storage (NYSE:PSA) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 10,247 shares of the real estate investment trust’s stock, valued at approximately $3,262,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC increased its stake in shares of Public Storage by 2.2% in the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock valued at $419,000 after acquiring an additional 34 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in Public Storage by 2.6% during the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after acquiring an additional 36 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Public Storage by 1.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares during the period. Raiffeisen Bank International AG increased its stake in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Chesapeake Capital Corp IL increased its stake in Public Storage by 1.3% in the second quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 38 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSA has been the topic of several research reports. BNP Paribas Exane upped their price objective 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. Evercore set a $316.00 target price on Public Storage in a research note on Monday, July 6th. Jefferies Financial Group boosted their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Raymond James Financial began coverage on Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus target price of $327.00.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 11.10% of the company’s stock.

Public Storage Stock Performance

Shares of PSA stock opened at $302.23 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The firm has a fifty day simple moving average of $321.71 and a two-hundred day simple moving average of $307.78. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The firm has a market capitalization of $53.08 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 3.62 and a beta of 0.95.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. The firm 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%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm earned $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts forecast that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Investors 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 4.0%. The ex-dividend date is Tuesday, September 15th. Public Storage’s dividend payout ratio is currently 114.50%.

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.