Haverford Trust Co Makes New $1.29 Million Investment in Public Storage $PSA

Haverford Trust Co acquired a new stake in Public Storage (NYSE:PSA) during the second quarter, HoldingsChannel.com reports. The fund acquired 4,066 shares of the real estate investment trust’s stock, valued at approximately $1,294,000.

Other large investors also recently modified their holdings of the company. Bayban purchased a new stake in shares of Public Storage during the 4th quarter worth $26,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Public Storage during the third quarter worth $27,000. Bruce G. Allen Investments LLC grew its stake in shares of Public Storage by 89.6% during the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 43 shares in the last quarter. Wealth Watch Advisors INC purchased a new position in Public Storage in the third quarter valued at $34,000. Finally, Meeder Asset Management Inc. purchased a new position in Public Storage in the second quarter valued at $36,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PSA shares. Raymond James Financial initiated coverage on Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating on the stock. Truist Financial upped their price objective on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. BMO Capital Markets increased their price objective on Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a report on Monday, June 15th. Mizuho raised their target price on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $326.16.

Public Storage Trading Up 0.0%

Shares of Public Storage stock opened at $322.76 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The company has a fifty day simple moving average of $322.35 and a 200-day simple moving average of $306.22. The stock has a market cap of $56.68 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 3.80 and a beta of 0.96. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping 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 analyst estimates of $1.23 billion. During the same period last year, the business earned $4.28 EPS. Public Storage’s revenue for the quarter was down .5% compared to the same quarter last year. 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 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders 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 presently 114.50%.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage 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 SEC, which is accessible through the SEC website. Insiders own 11.10% of the company’s stock.

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.