Saudi Central Bank Purchases 5,230 Shares of Public Storage $PSA

Saudi Central Bank lifted its position in shares of Public Storage (NYSE:PSA) by 89.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,059 shares of the real estate investment trust’s stock after buying an additional 5,230 shares during the quarter. Saudi Central Bank’s holdings in Public Storage were worth $3,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bayban acquired a new position in shares of Public Storage during the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the 3rd quarter worth $27,000. Bruce G. Allen Investments LLC increased its stake in Public Storage by 89.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 43 shares during the period. Continuum Advisory LLC acquired a new position in Public Storage in the 2nd quarter valued at $29,000. Finally, Wealth Watch Advisors INC acquired a new position in Public Storage in the 3rd quarter valued at $34,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $463,127.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Evercore set a $316.00 price objective on shares of Public Storage in a research report on Monday, July 6th. Jefferies Financial Group increased their price objective on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. BMO Capital Markets boosted their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Finally, Scotiabank decreased their price objective on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Hold” and an average target price of $327.00.

Public Storage Stock Performance

Shares of PSA stock opened at $301.83 on Monday. The business’s 50-day moving average price is $320.62 and its 200-day moving average price is $307.86. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The firm has a market capitalization of $53.01 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 4.11 and a beta of 0.95. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $1.64. The company had revenue of $1.23 billion during 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 firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities 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. Stockholders of record on Tuesday, September 15th will be paid 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 4.0%. Public Storage’s dividend payout ratio (DPR) is presently 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.