Heartland Advisors Inc. Takes Position in Public Storage $PSA

Heartland Advisors Inc. purchased a new position in Public Storage (NYSE:PSA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 69,500 shares of the real estate investment trust’s stock, valued at approximately $22,123,000. Public Storage accounts for about 1.0% of Heartland Advisors Inc.’s investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSA. BlackRock Inc. bought a new position in Public Storage in the 2nd quarter worth about $5,495,077,000. Norges Bank purchased a new stake in shares of Public Storage in the 4th quarter valued at about $1,163,751,000. Capital International Investors boosted its position in shares of Public Storage by 821.4% during the 4th 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. Vanguard Group Inc. boosted its position in shares of Public Storage by 9.9% during 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 acquiring an additional 2,274,397 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Public Storage during the second quarter worth about $400,776,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. BMO Capital Markets increased their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Citigroup lifted their price objective on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Truist Financial upped their target price on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Finally, Scotiabank increased their target price on Public Storage from $345.00 to $346.00 and gave the company an “outperform” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and a consensus target price of $326.16.

Public Storage Stock Up 0.0%

Shares of PSA opened at $322.76 on Friday. The firm has a market cap of $56.68 billion, a P/E ratio of 30.80, a P/E/G ratio of 3.80 and a beta of 0.96. The stock has a 50 day simple moving average of $322.35 and a two-hundred day simple moving average of $306.22. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping the consensus estimate of $2.53 by $1.64. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last 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, analysts forecast that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is currently 114.50%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

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.