Commerce Bank Takes Position in Public Storage $PSA

Commerce Bank bought a new position in shares of Public Storage (NYSE:PSA) in the second quarter, Holdings Channel reports. The institutional investor bought 48,588 shares of the real estate investment trust’s stock, valued at approximately $15,466,000.

Several other hedge funds have also recently modified their holdings of PSA. V Square Quantitative Management LLC increased its stake in Public Storage by 2.2% during the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 34 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in shares of Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after acquiring an additional 36 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Public Storage by 1.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 37 shares during the last quarter. Raiffeisen Bank International AG lifted its holdings in Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Chesapeake Capital Corp IL boosted its stake in Public Storage by 1.3% during the 2nd quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock worth $953,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Evercore set a $316.00 target price on shares of Public Storage in a research report on Monday, July 6th. Barclays upped their price objective on shares of Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday. BNP Paribas Exane increased their price objective on shares of Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. BMO Capital Markets raised 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 note on Monday, June 15th. Finally, Mizuho boosted their target price on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and an average price target of $326.16.

Public Storage Stock Up 0.0%

PSA opened at $322.76 on Friday. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The business has a 50 day moving average price of $322.35 and a two-hundred day moving average price of $306.22. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The company has a market cap of $56.68 billion, a PE ratio of 30.80, a P/E/G ratio of 3.80 and a beta of 0.96.

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

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued 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 dividend yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is currently 114.50%.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage 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 document filed with the SEC, which is available through the SEC website. 11.10% of the stock is currently owned by company insiders.

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.