Great Lakes Advisors LLC Takes $4.65 Million Position in Public Storage $PSA

Great Lakes Advisors LLC bought a new stake in Public Storage (NYSE:PSA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,613 shares of the real estate investment trust’s stock, valued at approximately $4,651,000.

Several other large investors also recently added to or reduced their stakes in PSA. Pacific Sun Financial Corp bought a new position in shares of Public Storage during the 2nd quarter valued at $454,000. Danske Bank A S bought a new stake in Public Storage in the second quarter worth $22,798,000. Diversify Advisory Services LLC bought a new stake in Public Storage in the second quarter worth $2,064,000. Oxbow Advisors LLC acquired a new position in Public Storage during the second quarter worth $210,000. Finally, Investmark Advisory Group LLC acquired a new position in Public Storage during the second quarter worth $293,000. 78.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was 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 can be accessed through this link. Company insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Mizuho upped their price target on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. UBS Group boosted their price objective on shares of Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Raymond James Financial initiated coverage on shares of Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating for the company. Truist Financial increased their price target on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Finally, Barclays lifted their target price on Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $326.16.

Public Storage Stock Performance

PSA opened at $325.37 on Thursday. The company has a market capitalization of $57.14 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 3.81 and a beta of 0.96. The business’s 50-day moving average price is $322.45 and its two-hundred day moving average price is $305.77. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55.

Public Storage (NYSE:PSA) last issued its quarterly 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 company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities analysts expect 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 will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s payout ratio is 114.50%.

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.