Dockside LLC Invests $2.21 Million in Public Storage $PSA

Dockside LLC purchased a new position in Public Storage (NYSE:PSA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,524 shares of the real estate investment trust’s stock, valued at approximately $2,212,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage in the third quarter worth about $27,000. Raiffeisen Bank International AG purchased a new stake in shares of Public Storage in the third quarter worth about $30,000. Wealth Watch Advisors INC purchased a new stake in shares of Public Storage in the third quarter worth about $34,000. Knuff & Co LLC purchased a new stake in shares of Public Storage in the fourth quarter worth about $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Public Storage by 2,940.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 152 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 147 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Up 0.3%

Shares of PSA opened at $325.83 on Friday. The firm’s 50 day simple moving average is $303.33 and its 200 day simple moving average is $288.76. The company has a market capitalization of $57.20 billion, a P/E ratio of 33.63, a P/E/G ratio of 4.44 and a beta of 0.98. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. Public Storage’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Sell-side analysts forecast that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PSA shares. Barclays lowered their price target on shares of Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. William Blair set a $305.00 price target on shares of Public Storage in a report on Monday, March 16th. Jefferies Financial Group increased their price target on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Mizuho increased their price target on shares of Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $319.28.

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.