Equitable Holdings Inc. Makes New Investment in Public Storage $PSA

Equitable Holdings Inc. bought a new stake in shares of Public Storage (NYSE:PSA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,720 shares of the real estate investment trust’s stock, valued at approximately $866,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Public Storage in the second quarter valued at about $5,495,077,000. Norges Bank purchased a new position in Public Storage in the fourth quarter worth about $1,163,751,000. Capital International Investors grew its stake 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 purchasing an additional 3,686,211 shares during the period. Legal & General Group Plc bought a new stake in shares of Public Storage during the 2nd quarter valued at about $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Public Storage during the 2nd quarter valued at about $558,904,000. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Up 0.8%

Public Storage stock opened at $313.65 on Friday. The firm has a 50 day moving average of $322.34 and a 200 day moving average of $307.48. The firm has a market capitalization of $55.08 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 3.69 and a beta of 0.96. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The company’s revenue was down .5% on a year-over-year basis. During the same period 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 predict 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. Investors 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 3.8%. Public Storage’s dividend payout ratio (DPR) is currently 114.50%.

Insider Activity

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. 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. Royal Bank Of Canada upped their target price on shares of Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Jefferies Financial Group increased their price target on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Citigroup lifted their price target on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $326.16.

Public Storage 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.