Gallacher Capital Management LLC Makes New Investment in Public Storage $PSA

Gallacher Capital Management LLC purchased a new stake in shares of Public Storage (NYSE:PSA) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,135 shares of the real estate investment trust’s stock, valued at approximately $578,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC lifted its position in Public Storage by 25.3% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after purchasing an additional 3,763 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Public Storage by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after purchasing an additional 9,618 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Public Storage by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock worth $118,576,000 after purchasing an additional 25,353 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Public Storage by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock worth $63,838,000 after buying an additional 12,444 shares during the period. Finally, Swiss Life Asset Management Ltd increased its stake in shares of Public Storage by 16.0% in the third quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust’s stock worth $9,950,000 after buying an additional 4,762 shares during the period. 78.79% of the stock is owned by institutional investors.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction 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 insiders.

Public Storage Stock Performance

NYSE:PSA opened at $324.37 on Friday. The stock has a market cap of $56.94 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 4.23 and a beta of 0.96. The firm’s fifty day simple moving average is $314.12 and its 200 day simple moving average is $297.78. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm earned $4.12 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, research analysts predict that Public Storage will post 16.94 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage’s payout ratio is currently 123.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PSA shares. BNP Paribas Exane increased their price target on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. BMO Capital Markets boosted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Scotiabank upped their price objective on shares of Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Finally, Evercore set a $316.00 target price on Public Storage in a research note on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has an average rating of “Hold” and a consensus price target of $325.37.

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.