Legal & General Group Plc Purchases New Position in Public Storage $PSA

Legal & General Group Plc acquired a new stake in shares of Public Storage (NYSE:PSA) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,890,140 shares of the real estate investment trust’s stock, valued at approximately $601,650,000.

A number of other institutional investors have also recently bought and sold shares of PSA. Bayban acquired a new stake in Public Storage in the fourth quarter worth $26,000. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage during the third quarter worth $27,000. Bruce G. Allen Investments LLC grew its holdings in shares of 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 during the period. Wealth Watch Advisors INC acquired a new position in shares of Public Storage in the 3rd quarter valued at $34,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Public Storage in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.10% of the stock is owned by corporate insiders.

Public Storage Trading Up 0.8%

Shares of NYSE:PSA opened at $324.95 on Tuesday. The firm has a market cap of $57.07 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 3.80 and a beta of 0.96. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The company’s fifty day simple moving average is $322.42 and its 200 day simple moving average is $306.78. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period 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, research analysts forecast that Public Storage will post 16.93 EPS 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. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s dividend payout ratio is currently 114.50%.

Analyst Ratings Changes

PSA has been the topic of several research analyst reports. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Jefferies Financial Group increased their price target on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 price target on shares of Public Storage in a research report on Wednesday, April 29th. Finally, Mizuho lifted their price objective on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Seven 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, Public Storage currently has an average rating of “Hold” and an average price target of $326.16.

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.