Great Lakes Advisors LLC Invests $4.65 Million in Public Storage $PSA

Great Lakes Advisors LLC purchased a new stake in Public Storage (NYSE:PSA) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 14,613 shares of the real estate investment trust’s stock, valued at approximately $4,651,000.

A number of other hedge funds have also bought and sold shares of PSA. Pacific Sun Financial Corp bought a new stake in Public Storage in the 2nd quarter valued at about $454,000. Danske Bank A S bought a new stake in shares of Public Storage in the second quarter valued at approximately $22,798,000. Diversify Advisory Services LLC acquired a new stake in Public Storage during the second quarter worth approximately $2,064,000. Oxbow Advisors LLC bought a new position in Public Storage during the 2nd quarter worth $210,000. Finally, Investmark Advisory Group LLC bought a new position in Public Storage during the 2nd quarter worth $293,000. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

PSA stock opened at $325.37 on Thursday. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. 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 has a market cap of $57.14 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 3.81 and a beta of 0.96. The company has a 50 day simple moving average of $322.45 and a 200 day simple moving average of $305.77.

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

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders 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 yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is presently 114.50%.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

PSA has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Royal Bank Of Canada raised their target price on shares of Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Evercore set a $316.00 price target on shares of Public Storage in a report on Monday, July 6th. Jefferies Financial Group increased their price target on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Barclays lifted their price objective on shares of Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $326.16.

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.