Public Storage $PSA Position Increased by State of Michigan Retirement System

State of Michigan Retirement System increased its stake in Public Storage (NYSE:PSA) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,221 shares of the real estate investment trust’s stock after purchasing an additional 2,600 shares during the period. State of Michigan Retirement System’s holdings in Public Storage were worth $14,713,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pekin Hardy Strauss Inc. grew its stake in Public Storage by 4.8% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 3,388 shares of the real estate investment trust’s stock worth $1,078,000 after buying an additional 155 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Public Storage by 7.7% in the second quarter. Pictet Asset Management Holding SA now owns 77,971 shares of the real estate investment trust’s stock valued at $24,819,000 after buying an additional 5,560 shares during the last quarter. Assetmark Inc. lifted its stake in Public Storage by 4.0% in the second quarter. Assetmark Inc. now owns 3,799 shares of the real estate investment trust’s stock valued at $1,209,000 after buying an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Public Storage by 3.0% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,406 shares of the real estate investment trust’s stock valued at $1,721,000 after acquiring an additional 155 shares during the period. Finally, Diversify Wealth Management LLC boosted its holdings in shares of Public Storage by 74.3% during the second quarter. Diversify Wealth Management LLC now owns 6,371 shares of the real estate investment trust’s stock valued at $2,064,000 after acquiring an additional 2,716 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’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 transaction of $463,127.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group increased 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. Scotiabank boosted their target price on shares of Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Mizuho raised their price target 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. Finally, Royal Bank Of Canada lifted their price target on Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $326.05.

Public Storage Price Performance

Shares of NYSE PSA opened at $325.99 on Friday. The stock has a market cap of $57.25 billion, a P/E ratio of 31.11, a P/E/G ratio of 3.87 and a beta of 0.96. The firm’s 50-day simple moving average is $322.15 and its 200 day simple moving average is $304.57. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS 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 firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the company earned $4.28 EPS. Public Storage’s quarterly revenue was down .5% on a year-over-year basis. 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 year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 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.