RB Capital Management LLC Purchases Shares of 3,708 Public Storage $PSA

RB Capital Management LLC acquired a new position in shares of Public Storage (NYSE:PSA) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,708 shares of the real estate investment trust’s stock, valued at approximately $1,180,000.

Several other institutional investors have also recently made changes to their positions in PSA. Empowered Funds LLC acquired a new position in shares of Public Storage in the 2nd quarter valued at $3,262,000. United Capital Financial Advisors LLC acquired a new position in shares of Public Storage in the second quarter worth about $1,425,000. Dearborn Partners LLC purchased a new stake in shares of Public Storage during the 2nd quarter worth about $465,000. Bank OZK purchased a new stake in shares of Public Storage during the 2nd quarter worth about $301,000. Finally, Equitable Holdings Inc. acquired a new stake in shares of Public Storage during the 2nd quarter valued at about $866,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Evercore set a $316.00 price target on Public Storage in a research note on Monday, July 6th. Truist Financial raised their price objective on Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Barclays increased their target price on Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $326.16.

Public Storage Trading Up 0.8%

PSA stock opened at $313.65 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. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The stock has a market cap of $55.08 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.67 and a beta of 0.96. The business’s 50-day moving average is $322.34 and its 200 day moving average is $307.48.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. The business had revenue of $1.23 billion during 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 revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, sell-side analysts anticipate that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is presently 114.50%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.