Danske Bank A S Acquires Shares of 71,623 Public Storage $PSA

Danske Bank A S bought a new stake in Public Storage (NYSE:PSA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 71,623 shares of the real estate investment trust’s stock, valued at approximately $22,798,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Public Storage by 25.3% in 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 acquiring an additional 3,763 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Public Storage by 3.4% in the 4th 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 purchasing an additional 9,618 shares in the last quarter. Principal Financial Group Inc. boosted its stake in 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 purchasing an additional 12,444 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Public Storage by 5.8% during the fourth 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 in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Public Storage by 4.5% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of recent research reports. UBS Group boosted their price target on shares of Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $341.00 price target on shares of Public Storage in a report on Wednesday, April 29th. Evercore set a $316.00 price objective on Public Storage in a research note on Monday, July 6th. JPMorgan Chase & Co. raised their target price on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $326.16.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.10% of the stock is currently owned by company insiders.

Public Storage Stock Down 0.6%

Shares of NYSE PSA opened at $323.27 on Friday. The company has a market capitalization of $56.77 billion, a P/E ratio of 30.85, a P/E/G ratio of 3.83 and a beta of 0.96. 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 company has a 50 day simple moving average of $322.41 and a 200-day simple moving average of $306.11. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating 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 return on equity of 40.98% and a net margin of 41.80%.The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities research analysts predict that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

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 given a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage’s payout ratio is currently 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.