OMERS ADMINISTRATION Corp Has $2 Million Stake in Public Storage $PSA

OMERS ADMINISTRATION Corp increased its holdings in Public Storage (NYSE:PSA) by 29.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 7,382 shares of the real estate investment trust’s stock after acquiring an additional 1,689 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Public Storage were worth $2,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC lifted its stake in shares of Public Storage by 2.2% in the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock valued at $419,000 after purchasing an additional 34 shares during the last quarter. Gryphon Financial Partners LLC increased its position in shares of Public Storage by 2.6% during the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 36 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares during the last quarter. Raiffeisen Bank International AG raised its holdings in Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 37 shares during the period. Finally, Azzad Asset Management Inc. ADV raised its holdings in Public Storage by 0.7% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust’s stock valued at $1,451,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BNP Paribas Exane increased their target price on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Citigroup boosted their price target on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Truist Financial upped their price objective on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Jefferies Financial Group increased their price objective 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, Scotiabank lifted their target price on shares of Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $325.37.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is currently owned by company insiders.

Public Storage Stock Performance

NYSE PSA opened at $331.02 on Wednesday. The company has a market cap of $58.11 billion, a P/E ratio of 34.16, a P/E/G ratio of 4.36 and a beta of 0.96. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50-day moving average of $316.58 and a two-hundred day moving average of $300.98. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.05.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm earned $4.12 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, analysts anticipate that Public Storage will post 16.94 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, June 15th. Public Storage’s dividend payout ratio is presently 123.84%.

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.