Plato Investment Management Ltd Invests $1.73 Million in Public Storage $PSA

Plato Investment Management Ltd bought a new stake in Public Storage (NYSE:PSA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,458 shares of the real estate investment trust’s stock, valued at approximately $1,727,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Public Storage in the 4th quarter valued at $1,163,751,000. Capital International Investors boosted 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 worth $1,073,032,000 after buying an additional 3,686,211 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 acquiring an additional 2,274,397 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Public Storage in the 2nd quarter valued at about $321,799,000. Finally, First Trust Advisors LP grew its holdings 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 acquiring an additional 535,465 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the 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 this link. 11.10% of the stock is currently owned by insiders.

Public Storage Stock Performance

Shares of NYSE PSA opened at $324.34 on Tuesday. 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 has a 12 month low of $256.54 and a 12 month high of $335.55. The stock has a 50 day moving average of $322.41 and a 200-day moving average of $305.08. The company has a market capitalization of $56.96 billion, a P/E ratio of 30.95, a P/E/G ratio of 3.84 and a beta of 0.96.

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, beating analysts’ consensus estimates of $2.53 by $1.64. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities research analysts predict 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. Shareholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s dividend payout ratio is presently 114.50%.

Analysts Set New Price Targets

Several research analysts recently commented on PSA shares. UBS Group increased their price target on Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Jefferies Financial Group upped their price objective on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. BMO Capital Markets increased their price objective on Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a report on Monday, June 15th. Scotiabank raised their target price 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. Finally, BNP Paribas Exane raised their target price on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $326.05.

About Public Storage

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.