Legal & General Group Plc Acquires 83,916 Shares of Public Storage $PSA

Legal & General Group Plc boosted its holdings in Public Storage (NYSE:PSA) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,951,779 shares of the real estate investment trust’s stock after acquiring an additional 83,916 shares during the quarter. Legal & General Group Plc’s holdings in Public Storage were worth $506,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its position in Public Storage by 13.8% in the 4th quarter. Hantz Financial Services Inc. now owns 16,016 shares of the real estate investment trust’s stock valued at $4,156,000 after acquiring an additional 1,940 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Public Storage in the 4th quarter valued at approximately $549,000. MQS Management LLC bought a new position in Public Storage in the 4th quarter valued at approximately $976,000. Axxcess Wealth Management LLC lifted its position in Public Storage by 153.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 5,888 shares of the real estate investment trust’s stock valued at $1,528,000 after acquiring an additional 3,562 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in Public Storage by 1.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 37 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PSA. Scotiabank upped their price objective on Public Storage from $321.00 to $340.00 in a research report on Monday, May 11th. Evercore set a $306.00 price target on Public Storage in a report on Monday, May 4th. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $295.00 in a report on Thursday, February 5th. UBS Group increased their price target on Public Storage from $276.00 to $314.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Finally, William Blair set a $305.00 price target on Public Storage in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $314.33.

Public Storage Price Performance

NYSE PSA opened at $304.96 on Tuesday. The business’s fifty day moving average price is $293.32 and its 200-day moving average price is $285.14. The stock has a market capitalization of $53.54 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 4.17 and a beta of 1.00. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. Public Storage has a 1-year low of $256.54 and a 1-year high of $313.51.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the firm earned $4.12 EPS. The company’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. On average, equities analysts predict that Public Storage will post 16.89 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $3.00 dividend. 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 currently 123.84%.

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.