Employees Retirement System of Texas Reduces Holdings in Public Storage $PSA

Employees Retirement System of Texas cut its stake in shares of Public Storage (NYSE:PSA) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,650 shares of the real estate investment trust’s stock after selling 2,600 shares during the quarter. Employees Retirement System of Texas’ holdings in Public Storage were worth $38,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service raised its position in Public Storage by 4.2% during the 3rd quarter. National Pension Service now owns 255,300 shares of the real estate investment trust’s stock valued at $73,743,000 after purchasing an additional 10,345 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in Public Storage by 57.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust’s stock valued at $1,437,000 after purchasing an additional 1,816 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Public Storage by 14,992.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust’s stock valued at $3,400,000 after purchasing an additional 11,694 shares during the last quarter. Jones Financial Companies Lllp raised its position in Public Storage by 19.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust’s stock valued at $11,766,000 after purchasing an additional 6,814 shares during the last quarter. Finally, Barclays PLC raised its position in Public Storage by 93.8% during the 3rd quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust’s stock valued at $174,165,000 after purchasing an additional 291,895 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.2%

Shares of NYSE:PSA opened at $304.76 on Wednesday. Public Storage has a 52-week low of $256.54 and a 52-week high of $313.51. The firm has a market capitalization of $53.50 billion, a P/E ratio of 31.45, a P/E/G ratio of 4.17 and a beta of 1.00. The stock has a 50 day moving average price of $293.45 and a 200-day moving average price of $285.33. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned $4.12 EPS. The business’s revenue was down .1% compared to the same quarter last year. 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 16.89 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is 123.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank Of Canada upped their price target on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lowered their price target on Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a research report on Monday, March 23rd. William Blair set a $305.00 price target on Public Storage in a research report on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research report on Tuesday, April 21st. Finally, Barclays decreased their target price on Public Storage from $352.00 to $349.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Public Storage currently has an average rating of “Hold” and a consensus price target of $314.33.

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.