Legal & General Group Plc Purchases New Shares in Public Storage $PSA

Legal & General Group Plc purchased a new position in shares of Public Storage (NYSE:PSA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,890,140 shares of the real estate investment trust’s stock, valued at approximately $601,650,000. Legal & General Group Plc owned approximately 1.08% of Public Storage as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PSA. Bayban bought a new position in shares of Public Storage in the fourth quarter worth about $26,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Public Storage during the third quarter worth approximately $27,000. Bruce G. Allen Investments LLC grew its stake in shares of Public Storage by 89.6% during the second 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 shares of Public Storage during the third quarter valued at approximately $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Public Storage in the second quarter valued at approximately $36,000. Institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 11.10% of the stock is currently owned by company insiders.

Public Storage Trading Up 0.8%

PSA opened at $324.95 on Tuesday. 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 market cap of $57.07 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The firm has a 50 day simple moving average of $322.42 and a 200 day simple 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 announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $4.28 earnings per share. Public Storage’s revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, sell-side analysts anticipate 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 dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage’s payout ratio is presently 114.50%.

Wall Street Analyst Weigh In

PSA has been the subject of several research analyst reports. Mizuho boosted their price objective on shares of Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Raymond James Financial initiated coverage on Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating on the stock. Royal Bank Of Canada lifted their target price on Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Jefferies Financial Group boosted their target price on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 price target on shares of Public Storage in a research note on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $326.16.

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.