Lasalle Investment Management Securities LLC Grows Holdings in Public Storage $PSA

Lasalle Investment Management Securities LLC boosted its position in shares of Public Storage (NYSE:PSA) by 1.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 484,663 shares of the real estate investment trust’s stock after purchasing an additional 4,670 shares during the quarter. Public Storage accounts for about 5.2% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its 4th biggest holding. Lasalle Investment Management Securities LLC’s holdings in Public Storage were worth $131,286,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Public Storage in the fourth quarter worth $1,163,751,000. Capital International Investors grew its holdings in shares of Public Storage by 821.4% in 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 buying an additional 3,686,211 shares during the period. Vanguard Group Inc. increased its position in shares of Public Storage by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after buying an additional 2,274,397 shares in the last quarter. First Trust Advisors LP increased its position in shares of Public Storage by 287.7% in the 4th quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock valued at $187,252,000 after buying an additional 535,465 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after buying an additional 481,872 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PSA. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays restated an “equal weight” rating and issued a $349.00 price target on shares of Public Storage in a report on Friday, July 10th. Truist Financial raised their price target on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada lifted their price objective on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $325.37.

Public Storage Trading Up 0.7%

Shares of NYSE:PSA opened at $311.80 on Thursday. Public Storage has a 12 month low of $256.54 and a 12 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. The company’s fifty day simple moving average is $314.47 and its 200 day simple moving average is $299.30. The firm has a market cap of $54.74 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 4.17 and a beta of 0.96.

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

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, June 15th. Public Storage’s payout ratio is 123.84%.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction 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 hyperlink. 11.10% of the stock is currently owned by company insiders.

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.