CI Investments Inc. Has $33.83 Million Position in Public Storage $PSA

CI Investments Inc. decreased its holdings in Public Storage (NYSE:PSA) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 124,870 shares of the real estate investment trust’s stock after selling 2,737 shares during the quarter. CI Investments Inc.’s holdings in Public Storage were worth $33,825,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. V Square Quantitative Management LLC boosted its position in shares of Public Storage by 2.2% during the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock valued at $419,000 after acquiring an additional 34 shares in the last quarter. Gryphon Financial Partners LLC raised its position in Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 36 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Public Storage by 1.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares in the last quarter. Raiffeisen Bank International AG lifted its stake in Public Storage by 35.2% during the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares during the period. Finally, Azzad Asset Management Inc. ADV lifted its stake in Public Storage by 0.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust’s stock worth $1,451,000 after purchasing an additional 39 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Up 0.7%

Shares of NYSE PSA opened at $311.80 on Thursday. The firm’s 50-day simple moving average is $314.47 and its 200 day simple moving average is $299.30. The company has a market cap of $54.74 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 4.17 and a beta of 0.96. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 12-month low of $256.54 and a 12-month high of $331.79.

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

Public Storage Dividend Announcement

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

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. This represents a 40.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BNP Paribas Exane increased their target price on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Jefferies Financial Group upped their price objective on shares of 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 raised their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $341.00 target price on shares of Public Storage in a report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $325.37.

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.