Pictet Asset Management Holding SA Boosts Stock Holdings in Public Storage $PSA

Pictet Asset Management Holding SA lifted its position in Public Storage (NYSE:PSA) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,971 shares of the real estate investment trust’s stock after purchasing an additional 5,560 shares during the period. Pictet Asset Management Holding SA’s holdings in Public Storage were worth $24,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its position in Public Storage by 25.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock worth $4,829,000 after purchasing an additional 3,763 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Public Storage by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock valued at $75,171,000 after buying an additional 9,618 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Public Storage by 5.3% during the 4th quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock worth $63,838,000 after buying an additional 12,444 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Public Storage by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock worth $118,576,000 after buying an additional 25,353 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Public Storage by 4.5% during the 4th quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust’s stock valued at $506,487,000 after buying an additional 83,916 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSA has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their price target on shares of Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Evercore set a $316.00 price objective on shares of Public Storage in a research report on Monday, July 6th. Barclays reaffirmed an “equal weight” rating and set a $349.00 price objective on shares of Public Storage in a report on Friday, July 10th. Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Finally, UBS Group boosted their target price on shares of Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, Public Storage has an average rating of “Hold” and an average price target of $326.05.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. 11.10% of the stock is owned by insiders.

Public Storage Stock Performance

NYSE PSA opened at $325.99 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 stock’s 50 day simple moving average is $322.15 and its 200-day simple moving average is $304.57. The company has a market cap of $57.25 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 3.87 and a beta of 0.96. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage (NYSE:PSA) last issued 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. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the business earned $4.28 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities research analysts anticipate 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. Shareholders of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s payout ratio is 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.