Healthcare of Ontario Pension Plan Trust Fund Buys 120,897 Shares of Public Storage $PSA

Healthcare of Ontario Pension Plan Trust Fund grew its stake in Public Storage (NYSE:PSA) by 76.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 278,920 shares of the real estate investment trust’s stock after purchasing an additional 120,897 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.16% of Public Storage worth $75,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSA. Empowered Funds LLC lifted its stake in shares of Public Storage by 13.3% in the 1st 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 acquired a new position in Public Storage in the 2nd quarter worth about $929,000. Nebula Research & Development LLC acquired a new position in Public Storage in the 2nd quarter worth about $1,113,000. Treasurer of the State of North Carolina raised its position in Public Storage by 1.9% in the second 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 boosted its stake in shares of Public Storage by 219.8% during the second 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.

Public Storage Stock Up 2.6%

Shares of NYSE PSA opened at $323.05 on Friday. The company’s 50 day moving average price is $315.35 and its 200-day moving average price is $299.87. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79. The company has a market capitalization of $56.71 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 4.34 and a beta of 0.96.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. Public Storage’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities analysts forecast that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. Public Storage’s dividend payout ratio is presently 123.84%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Evercore set a $316.00 price objective on Public Storage in a research note on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Truist Financial raised their price target on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Barclays restated an “equal weight” rating and issued a $349.00 price objective on shares of Public Storage in a report on Friday, July 10th. Seven research 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, the company presently has a consensus rating of “Hold” and an average target price of $325.37.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.10% of the company’s stock.

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.