Public Storage $PSA Stock Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Public Storage (NYSE:PSA) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,530 shares of the real estate investment trust’s stock after buying an additional 4,542 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Public Storage were worth $18,817,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CWA Asset Management Group LLC lifted its holdings in shares of Public Storage by 0.9% in the 3rd quarter. CWA Asset Management Group LLC now owns 40,319 shares of the real estate investment trust’s stock worth $11,404,000 after acquiring an additional 351 shares during the last quarter. Maia Wealth LLC boosted its position in shares of Public Storage by 23.5% during the 3rd quarter. Maia Wealth LLC now owns 2,352 shares of the real estate investment trust’s stock worth $665,000 after purchasing an additional 447 shares during the period. Novem Group increased its holdings in Public Storage by 2.1% in the 3rd quarter. Novem Group now owns 3,581 shares of the real estate investment trust’s stock valued at $1,013,000 after purchasing an additional 75 shares during the last quarter. Abel Hall LLC acquired a new stake in Public Storage in the 3rd quarter valued at approximately $460,000. Finally, Banque Pictet & Cie SA acquired a new stake in Public Storage in the 3rd quarter valued at approximately $821,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSA. Raymond James Financial began coverage on Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating on the stock. Wells Fargo & Company set a $311.00 price target on Public Storage in a research report on Tuesday, September 1st. Weiss Ratings cut Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Truist Financial initiated coverage on Public Storage in a report on Friday, October 2nd. They issued a “buy” rating and a $317.00 price objective on the stock. Finally, Evercore set a $308.00 price objective on Public Storage in a report on Monday, September 21st. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and a consensus price target of $323.42.

Public Storage Trading Up 2.1%

NYSE PSA opened at $301.81 on Wednesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $53.00 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 4.41 and a beta of 0.94. The firm has a 50 day simple moving average of $300.61 and a 200-day simple moving average of $307.86. Public Storage has a one year low of $256.54 and a one year high of $335.55.

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 the consensus estimate of $2.53 by $1.64. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities research analysts anticipate that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 114.50%.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.10% of the stock is currently owned by company insiders.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.