Te Ahumairangi Investment Management Ltd Invests $5.05 Million in Public Storage $PSA

Te Ahumairangi Investment Management Ltd acquired a new position in Public Storage (NYSE:PSA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,856 shares of the real estate investment trust’s stock, valued at approximately $5,047,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bayban purchased a new position in shares of Public Storage in the fourth quarter worth about $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the 3rd quarter worth approximately $27,000. Bruce G. Allen Investments LLC grew its stake in Public Storage by 89.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 43 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of Public Storage during the third quarter worth $34,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Public Storage during the second quarter worth $36,000. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSA has been the topic of a number of recent research reports. Truist Financial increased their price objective on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Barclays upped their price target on Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday. Scotiabank increased their price target on shares of Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a report on Tuesday, August 18th. The Goldman Sachs Group restated a “buy” rating and issued a $341.00 price objective on shares of Public Storage in a research report on Wednesday, April 29th. Finally, UBS Group upped their target price on shares of Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, Public Storage currently has an average rating of “Hold” and an average target price of $326.16.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Public Storage Trading Up 0.1%

Shares of PSA opened at $322.76 on Monday. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. The company has a market capitalization of $56.68 billion, a P/E ratio of 30.80, a P/E/G ratio of 3.80 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The firm’s 50 day simple moving average is $322.35 and its 200 day simple moving average is $306.46.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm earned $4.28 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Sell-side analysts forecast that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage’s dividend payout ratio is 114.50%.

Public Storage 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.