Danske Bank A S Buys New Holdings in Public Storage $PSA

Danske Bank A S purchased a new position in Public Storage (NYSE:PSA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 71,623 shares of the real estate investment trust’s stock, valued at approximately $22,798,000.

Other institutional investors also recently bought and sold shares of the company. Bayban acquired a new stake in shares of Public Storage in the fourth quarter worth $26,000. Harvest Fund Management Co. Ltd acquired a new position in Public Storage during the third quarter valued at $27,000. Bruce G. Allen Investments LLC lifted its position in Public Storage by 89.6% during 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 period. Wealth Watch Advisors INC purchased a new stake in Public Storage in the third quarter valued at $34,000. Finally, Meeder Asset Management Inc. purchased a new stake in Public Storage in the second quarter valued at $36,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.6%

PSA stock opened at $323.27 on Friday. Public Storage has a one year low of $256.54 and a one year high of $335.55. 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’s fifty day moving average is $322.41 and its 200 day moving average is $306.11. The firm has a market cap of $56.77 billion, a PE ratio of 30.85, a P/E/G ratio of 3.83 and a beta of 0.96.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm posted $4.28 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, research analysts forecast that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PSA. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. upped their target price on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup lifted their price target on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Finally, UBS Group boosted their price target on Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Public Storage currently has an average rating of “Hold” and a consensus price target of $326.16.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.10% of the company’s stock.

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.