Corient Private Wealth LP Takes $20.33 Million Position in Public Storage $PSA

Corient Private Wealth LP acquired a new position in shares of Public Storage (NYSE:PSA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 63,866 shares of the real estate investment trust’s stock, valued at approximately $20,329,000.

Several other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Public Storage during the 2nd quarter valued at $5,495,077,000. Norges Bank purchased a new position in Public Storage during the fourth quarter worth $1,163,751,000. Capital International Investors raised its holdings in shares of Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after acquiring an additional 3,686,211 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Public Storage in the second quarter worth $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Public Storage in the second quarter valued at $558,904,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the 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 transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $313.65 on Friday. The business’s 50-day moving average price is $322.34 and its 200 day moving average price is $307.48. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The company has a market capitalization of $55.08 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 3.67 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06.

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, beating the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business earned $4.28 EPS. The firm’s revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, research analysts predict that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given 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 yield of 3.8%. Public Storage’s dividend payout ratio is 114.50%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Raymond James Financial began coverage on Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating on the stock. Jefferies Financial Group upped their target price on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Royal Bank Of Canada raised their price target on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Scotiabank lifted their price target on shares of Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. Finally, Barclays boosted their price objective on shares of Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company 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.