Great Lakes Advisors LLC Makes New $35.60 Million Investment in Public Storage $PSA

Great Lakes Advisors LLC purchased a new stake in Public Storage (NYSE:PSA) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 111,844 shares of the real estate investment trust’s stock, valued at approximately $35,602,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Empowered Funds LLC lifted its position 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 valued at $954,000 after acquiring an additional 373 shares during the period. Sivia Capital Partners LLC acquired a new stake in Public Storage in the second quarter worth $929,000. Nebula Research & Development LLC acquired a new stake in Public Storage in the second quarter worth $1,113,000. Treasurer of the State of North Carolina increased its stake in 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 purchasing an additional 1,390 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in Public Storage by 219.8% in the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock valued at $14,140,000 after purchasing an additional 33,122 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Down 0.1%

NYSE:PSA opened at $323.95 on Wednesday. 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 firm has a 50-day moving average of $322.44 and a 200-day moving average of $305.43. The company has a market cap of $56.89 billion, a PE ratio of 30.91, a PEG ratio of 3.84 and a beta of 0.96. Public Storage has a one year low of $256.54 and a one year high of $335.55.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the firm earned $4.28 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities research analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders 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 dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 114.50%.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PSA shares. Jefferies Financial Group increased their price objective 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. Royal Bank Of Canada upped their price target on Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Scotiabank increased their price target on Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a report on Tuesday. Evercore set a $316.00 price target on Public Storage in a report on Monday, July 6th. Finally, Citigroup raised their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Hold” and an average price target of $326.11.

Public Storage 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.