Rakuten Investment Management Inc. Makes New $8.38 Million Investment in Public Storage $PSA

Rakuten Investment Management Inc. purchased a new position in Public Storage (NYSE:PSA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 25,841 shares of the real estate investment trust’s stock, valued at approximately $8,384,000.

A number of other institutional investors also recently made changes to their positions in PSA. Empowered Funds LLC boosted its stake in shares of Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after acquiring an additional 373 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Public Storage during the 2nd quarter worth about $929,000. Nebula Research & Development LLC acquired a new position in Public Storage in the 2nd quarter valued at about $1,113,000. Treasurer of the State of North Carolina raised its stake in Public Storage by 1.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock valued at $21,647,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in Public Storage by 219.8% in the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock valued at $14,140,000 after purchasing an additional 33,122 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of NYSE PSA opened at $313.65 on Friday. The firm’s 50-day moving average price is $322.34 and its two-hundred day moving average price is $307.48. The stock has a market capitalization of $55.08 billion, a P/E ratio of 29.93, a P/E/G ratio of 3.69 and a beta of 0.96. 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 has a 52-week low of $256.54 and a 52-week high of $335.55.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating 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 the consensus estimate of $1.23 billion. During the same period last year, the firm posted $4.28 EPS. Public Storage’s quarterly revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts forecast that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

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

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PSA shares. Raymond James Financial began coverage on shares of Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating on the stock. Citigroup lifted their price target on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. BNP Paribas Exane upped their price objective on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Evercore set a $316.00 price target on Public Storage in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $326.16.

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.