OMERS ADMINISTRATION Corp Invests $2.65 Million in Public Storage $PSA

OMERS ADMINISTRATION Corp bought a new position in shares of Public Storage (NYSE:PSA) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 8,325 shares of the real estate investment trust’s stock, valued at approximately $2,650,000.

A number of other hedge funds have also added to or reduced their stakes in PSA. Empowered Funds LLC boosted its stake in shares of Public Storage by 13.3% during the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after buying an additional 373 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Public Storage in the second quarter valued at about $929,000. Nebula Research & Development LLC acquired a new stake in shares of Public Storage in the second quarter valued at about $1,113,000. Treasurer of the State of North Carolina increased its position in shares of Public Storage by 1.9% in the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock valued at $21,647,000 after acquiring an additional 1,390 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in Public Storage by 219.8% during the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock worth $14,140,000 after acquiring an additional 33,122 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.7%

Shares of PSA stock opened at $322.56 on Wednesday. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55. The stock has a market cap of $56.65 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 3.83 and a beta of 0.96. The firm’s 50-day moving average is $322.47 and its 200-day moving average is $307.02. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66.

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

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 114.50%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was 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 SEC, which is available through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the subject of several recent research reports. Mizuho increased their price target on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Evercore set a $316.00 price target on Public Storage in a research report on Monday, July 6th. BMO Capital Markets upped their price objective on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. BNP Paribas Exane increased their price objective on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Finally, Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently 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.