7,946 Shares in Public Storage $PSA Bought by Spartan Wealth Advisory Services LLC

Spartan Wealth Advisory Services LLC bought a new stake in Public Storage (NYSE:PSA) during the first quarter, Holdings Channel reports. The fund bought 7,946 shares of the real estate investment trust’s stock, valued at approximately $2,152,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC increased its position in shares of Public Storage by 25.3% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock worth $4,829,000 after acquiring an additional 3,763 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Public Storage by 3.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock valued at $75,171,000 after purchasing an additional 9,618 shares in the last quarter. Principal Financial Group Inc. raised its position in Public Storage by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock valued at $63,838,000 after purchasing an additional 12,444 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Public Storage by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock worth $118,576,000 after purchasing an additional 25,353 shares in the last quarter. Finally, Swiss Life Asset Management Ltd boosted its position in shares of Public Storage by 16.0% in the third quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust’s stock worth $9,950,000 after buying an additional 4,762 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Evercore set a $316.00 target price on Public Storage in a report on Monday, July 6th. Scotiabank lifted their price objective on shares of Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. 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 report on Tuesday, June 23rd. Citigroup boosted their price objective on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. raised their target price on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $325.37.

Public Storage Stock Down 1.9%

Shares of NYSE:PSA opened at $318.33 on Friday. The firm has a market cap of $55.88 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 4.28 and a beta of 0.96. The company has a fifty day simple moving average of $314.27 and a 200 day simple moving average of $297.92. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 12-month low of $256.54 and a 12-month high of $331.79.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion for 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%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities research analysts anticipate that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is 123.84%.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 11.10% of the stock is currently owned by corporate insiders.

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.