OMERS ADMINISTRATION Corp Invests $2.65 Million in Public Storage $PSA

OMERS ADMINISTRATION Corp acquired a new stake in Public Storage (NYSE:PSA) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,325 shares of the real estate investment trust’s stock, valued at approximately $2,650,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC grew its holdings in Public Storage by 25.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after purchasing an additional 3,763 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Public Storage by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after purchasing an additional 9,618 shares during the period. Principal Financial Group Inc. boosted its position in shares of Public Storage by 5.3% during the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock worth $63,838,000 after purchasing an additional 12,444 shares in the last quarter. Globeflex Capital L P bought a new position in shares of Public Storage during the second quarter worth $3,689,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Public Storage by 5.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock valued at $118,576,000 after buying an additional 25,353 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PSA. Citigroup upped their price objective on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Raymond James Financial started coverage on Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating for the company. Evercore set a $316.00 price target on Public Storage in a report on Monday, July 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 price target on shares of Public Storage in a research report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Seven 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, Public Storage has a consensus rating of “Hold” and an average price target of $326.16.

Public Storage Trading Down 0.7%

Shares of NYSE:PSA opened at $322.56 on Wednesday. The firm has a market cap of $56.65 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 3.83 and a beta of 0.96. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The company’s fifty day simple moving average is $322.47 and its 200 day simple moving average is $307.02. 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 announced its earnings results 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. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, research analysts forecast that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be issued a $3.00 dividend. 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 payout ratio is 114.50%.

Insider Activity at Public Storage

In other 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 transaction of $463,127.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.