Carnegie Investment Counsel Boosts Stake in Public Storage $PSA

Carnegie Investment Counsel grew its holdings in Public Storage (NYSE:PSA) by 5.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 111,899 shares of the real estate investment trust’s stock after buying an additional 6,091 shares during the period. Carnegie Investment Counsel’s holdings in Public Storage were worth $28,834,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Public Storage by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after buying an additional 2,274,397 shares during the period. Norges Bank acquired a new stake in shares of Public Storage during the fourth quarter valued at about $1,163,751,000. Capital International Investors increased its position in shares of Public Storage by 821.4% during the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after acquiring an additional 3,686,211 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Public Storage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock valued at $1,056,976,000 after acquiring an additional 66,445 shares during the period. Finally, Cohen & Steers Inc. raised its stake in shares of Public Storage by 9.3% in the 4th quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock valued at $1,036,375,000 after acquiring an additional 339,882 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the sale, the insider owned 1,414 shares of the company’s stock, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by insiders.

Public Storage Stock Up 0.4%

Shares of NYSE PSA traded up $1.24 during midday trading on Friday, hitting $320.59. The company’s stock had a trading volume of 628,597 shares, compared to its average volume of 872,886. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $56.28 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 4.31 and a beta of 0.96. The business’s fifty day simple moving average is $312.92 and its two-hundred day simple moving average is $295.87. Public Storage has a 1 year low of $256.54 and a 1 year high of $331.79.

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 analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned $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. On average, equities analysts predict that Public Storage will post 16.94 EPS for the current year.

Public Storage Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PSA. Royal Bank Of Canada increased their price objective on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. William Blair set a $305.00 target price on Public Storage in a research report on Monday, March 16th. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. raised their price target on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Finally, Evercore set a $316.00 price objective on Public Storage in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $325.37.

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.