Cibc World Market Inc. Purchases Shares of 44,816 Public Storage $PSA

Cibc World Market Inc. purchased a new stake in Public Storage (NYSE:PSA) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 44,816 shares of the real estate investment trust’s stock, valued at approximately $14,265,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bayban bought a new position in Public Storage during the 4th quarter worth about $26,000. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the third quarter valued at $27,000. Bruce G. Allen Investments LLC lifted its stake in Public Storage by 89.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 43 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in Public Storage in the 3rd quarter valued at $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in Public Storage during the second quarter worth approximately $36,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Up 0.8%

Shares of PSA opened at $324.95 on Tuesday. The firm has a market cap of $57.07 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The business has a 50-day moving average of $322.42 and a 200 day moving average of $306.78. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55.

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

Public Storage Dividend Announcement

The company also recently declared 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 of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is presently 114.50%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PSA shares. Mizuho boosted their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $341.00 price target on shares of Public Storage in a research report on Wednesday, April 29th. Finally, Barclays increased their price target on Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 19th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $326.16.

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.