ProShare Advisors LLC Grows Stake in Public Storage $PSA

ProShare Advisors LLC grew its position in shares of Public Storage (NYSE:PSA) by 7.6% in the fourth quarter, Holdings Channel reports. The firm owned 35,162 shares of the real estate investment trust’s stock after purchasing an additional 2,495 shares during the period. ProShare Advisors LLC’s holdings in Public Storage were worth $9,125,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the third quarter valued at $27,000. Raiffeisen Bank International AG bought a new position in Public Storage in the third quarter valued at $30,000. Wealth Watch Advisors INC bought a new position in Public Storage in the third quarter valued at $34,000. Knuff & Co LLC bought a new position in Public Storage in the fourth quarter valued at $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in 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 valued at $39,000 after acquiring an additional 147 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group increased their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets reissued a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. William Blair set a $305.00 target price on Public Storage in a research note on Monday, March 16th. The Goldman Sachs Group reissued a “buy” rating and issued a $341.00 target price on shares of Public Storage in a research note on Wednesday, April 29th. Finally, Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 target price on the stock. in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.22.

Public Storage Stock Performance

NYSE PSA opened at $304.98 on Friday. The company has a 50-day simple moving average of $293.08 and a two-hundred day simple moving average of $284.74. 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 $313.51. The firm has a market cap of $53.54 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 4.14 and a beta of 1.00.

Public Storage (NYSE:PSA) last posted its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. Public Storage’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities analysts forecast that Public Storage will post 16.89 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, June 15th. Public Storage’s dividend payout ratio is currently 123.84%.

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.