The Manufacturers Life Insurance Company Sells 4,241 Shares of Public Storage $PSA

The Manufacturers Life Insurance Company decreased its holdings in Public Storage (NYSE:PSA) by 4.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,644 shares of the real estate investment trust’s stock after selling 4,241 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Public Storage worth $31,718,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC lifted its stake in Public Storage by 89.6% in the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Continuum Advisory LLC bought a new position in shares of Public Storage during the second quarter valued at about $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage during the third quarter valued at about $27,000. Bayban purchased a new position in shares of Public Storage in the fourth quarter worth about $26,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Public Storage in the second quarter worth about $36,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Public Storage stock opened at $296.23 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The firm has a market cap of $52.02 billion, a P/E ratio of 28.27, a P/E/G ratio of 4.03 and a beta of 0.95. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. The firm has a 50-day moving average of $317.90 and a 200-day moving average of $307.70.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. The company 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%.Public Storage’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Sell-side analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be paid 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 4.1%. Public Storage’s payout ratio is 114.50%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSA. Citigroup increased their target price on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. BMO Capital Markets lifted their price target on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Raymond James Financial began coverage on Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. increased their price objective on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Finally, Royal Bank Of Canada raised their target price on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus target price of $327.05.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s 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 Securities & Exchange Commission, which is available at this link. 11.10% of the stock is currently owned by corporate insiders.

About Public Storage

Public Storage is a real estate investment trust that owns, operates and develops self-storage facilities in the United States. The company provides customers with storage units for household goods, business inventory, vehicles and other personal or commercial belongings.

Its facilities offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, electronic gate access and online account management. Public Storage also provides related services, including tenant insurance options and moving and packing supplies at select locations.

Founded in 1972 and headquartered in Glendale, California, Public Storage serves customers through a nationwide network of self-storage properties.