The Manufacturers Life Insurance Company Sells 4,241 Shares of Public Storage $PSA

The Manufacturers Life Insurance Company cut its stake in Public Storage (NYSE:PSA) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,644 shares of the real estate investment trust’s stock after selling 4,241 shares during the period. The Manufacturers Life Insurance Company’s holdings in Public Storage were worth $31,718,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Nykredit A S bought a new position in shares of Public Storage in the 2nd quarter worth approximately $17,378,000. Second Line Capital LLC boosted its position in shares of Public Storage by 29.6% during the second quarter. Second Line Capital LLC now owns 1,300 shares of the real estate investment trust’s stock valued at $414,000 after purchasing an additional 297 shares in the last quarter. Groupe la Francaise bought a new stake in shares of Public Storage during the second quarter valued at approximately $4,748,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Public Storage in the second quarter worth $72,529,000. Finally, California State Teachers Retirement System grew its stake in Public Storage by 30,482.4% in the second quarter. California State Teachers Retirement System now owns 77,538,088 shares of the real estate investment trust’s stock worth $24,681,149,000 after purchasing an additional 77,284,550 shares during the period. 78.79% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction that occurred on 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 filing with the SEC, which is accessible through this link. Corporate insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PSA. Evercore set a $316.00 price objective on Public Storage in a report on Monday, July 6th. Scotiabank reduced their target price on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 2nd. Raymond James Financial began coverage on shares of Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating for the company. Barclays lifted their price target on shares of Public Storage from $350.00 to $351.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Wells Fargo & Company set a $311.00 price objective on shares of Public Storage in a report on Tuesday, September 1st. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Public Storage presently has a consensus rating of “Hold” and an average target price of $327.05.

Public Storage Price Performance

Shares of NYSE:PSA opened at $296.23 on Friday. The business has a fifty day moving average price of $317.90 and a 200-day moving average price of $307.70. 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 company has a market capitalization of $52.02 billion, a PE ratio of 28.27, a PEG ratio of 4.03 and a beta of 0.95. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (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 company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $4.28 EPS. Public Storage’s revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently announced 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 of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.1%. Public Storage’s payout ratio is 114.50%.

About Public Storage

Public Storage is a real estate investment trust that owns, operates and develops self-storage facilities in the United States. The company provides customers with storage units for household goods, business inventory, vehicles and other personal or commercial belongings.

Its facilities offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, electronic gate access and online account management. Public Storage also provides related services, including tenant insurance options and moving and packing supplies at select locations.

Founded in 1972 and headquartered in Glendale, California, Public Storage serves customers through a nationwide network of self-storage properties.