Cohen & Steers Inc. Boosts Stake in Public Storage $PSA

Cohen & Steers Inc. increased its position in Public Storage (NYSE:PSA) by 9.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,993,623 shares of the real estate investment trust’s stock after purchasing an additional 339,882 shares during the period. Public Storage accounts for about 1.9% of Cohen & Steers Inc.’s holdings, making the stock its 15th biggest holding. Cohen & Steers Inc. owned 2.28% of Public Storage worth $1,036,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wealthspire Advisors LLC lifted its holdings in shares of Public Storage by 30.9% in the 4th quarter. Wealthspire Advisors LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $1,004,000 after purchasing an additional 914 shares during the last quarter. Columbia Bank lifted its holdings in shares of Public Storage by 1.9% in the 4th quarter. Columbia Bank now owns 7,163 shares of the real estate investment trust’s stock valued at $1,859,000 after purchasing an additional 131 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Public Storage by 1.3% in the 4th quarter. Advisors Asset Management Inc. now owns 14,341 shares of the real estate investment trust’s stock valued at $3,721,000 after purchasing an additional 183 shares during the last quarter. Advocate Investing Services LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at about $59,000. Finally, Federation des caisses Desjardins du Quebec lifted its holdings in shares of Public Storage by 21.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 18,371 shares of the real estate investment trust’s stock valued at $4,767,000 after purchasing an additional 3,183 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Performance

NYSE PSA opened at $325.83 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The business’s 50 day moving average is $303.33 and its two-hundred day moving average is $288.76. Public Storage has a 12-month low of $256.54 and a 12-month high of $331.79. The stock has a market capitalization of $57.20 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 4.43 and a beta of 0.98.

Public Storage (NYSE:PSA) last released its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the firm posted $4.12 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Research analysts expect that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s payout ratio is presently 123.84%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PSA. UBS Group boosted their target price on Public Storage from $276.00 to $314.00 and gave the company a “neutral” rating in a report on Monday, May 18th. JPMorgan Chase & Co. boosted their price target on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group boosted their price target on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. William Blair set a $305.00 price target on Public Storage in a research report on Monday, March 16th. Finally, BNP Paribas Exane boosted their price target on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. One investment 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $319.28.

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.