Johnson Financial Group Inc. Invests $2.66 Million in Public Storage $PSA

Johnson Financial Group Inc. purchased a new position in shares of Public Storage (NYSE:PSA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,362 shares of the real estate investment trust’s stock, valued at approximately $2,662,000.

A number of other institutional investors also recently made changes to their positions in PSA. BlackRock Inc. acquired a new stake in shares of Public Storage during the second quarter valued at $5,495,077,000. Norges Bank acquired a new position in Public Storage in the 4th quarter valued at about $1,163,751,000. Capital International Investors raised its stake in Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after purchasing an additional 3,686,211 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Public Storage by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after purchasing an additional 2,274,397 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Public Storage in the 2nd quarter valued at about $400,776,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on PSA. Scotiabank lifted their target price on shares of Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Truist Financial increased their price target on Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Barclays lifted 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. Finally, BMO Capital Markets lifted their target price on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $326.16.

Public Storage Trading Up 0.7%

NYSE PSA opened at $325.37 on Thursday. 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 company has a 50-day simple moving average of $322.45 and a 200-day simple moving average of $305.77. Public Storage has a one year low of $256.54 and a one year high of $335.55. The firm has a market capitalization of $57.14 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 3.81 and a beta of 0.96.

Public Storage (NYSE:PSA) last announced its quarterly 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 business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities analysts forecast that Public Storage will post 16.93 earnings per share for the current 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 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 payout ratio is 114.50%.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.10% of the company’s stock.

About Public Storage

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.