Daiichi Life Insurance Co. Ltd. Takes $1.08 Million Position in Public Storage $PSA

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Public Storage (NYSE:PSA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,399 shares of the real estate investment trust’s stock, valued at approximately $1,082,000.

Several other institutional investors have also bought and sold shares of the stock. Bayban purchased a new position in Public Storage during the 4th quarter worth $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Public Storage in the 3rd quarter worth $27,000. Bruce G. Allen Investments LLC raised its holdings in shares of Public Storage by 89.6% in the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 43 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of Public Storage in the third quarter valued at about $34,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Public Storage during the second quarter valued at about $36,000. Institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PSA shares. Raymond James Financial began coverage on shares of Public Storage in a report on Thursday, July 16th. They set a “market perform” rating on the stock. Mizuho increased their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. BMO Capital Markets lifted their target price on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Royal Bank Of Canada boosted their target price on Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Finally, Scotiabank boosted their target price on Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $326.16.

Public Storage Trading Up 0.8%

NYSE PSA opened at $324.95 on Tuesday. The business’s fifty day moving average is $322.42 and its 200-day moving average is $306.78. 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 stock has a market capitalization of $57.07 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 3.80 and a beta of 0.96. Public Storage has a one year low of $256.54 and a one year high of $335.55.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business earned $4.28 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities research analysts predict that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is presently 114.50%.

Public Storage Company 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.