Wealthfront Advisers LLC Acquires Shares of 29,758 Public Storage $PSA

Wealthfront Advisers LLC acquired a new position in Public Storage (NYSE:PSA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 29,758 shares of the real estate investment trust’s stock, valued at approximately $9,472,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Knights of Columbus Asset Advisors LLC grew its position in 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 stake in Public Storage by 3.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after acquiring an additional 9,618 shares during the last quarter. Principal Financial Group Inc. raised its position in Public Storage by 5.3% during 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. raised its position in 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 valued at $118,576,000 after purchasing an additional 25,353 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Public Storage by 4.5% in the 4th quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust’s stock valued at $506,487,000 after purchasing an additional 83,916 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PSA. BNP Paribas Exane lifted their target price on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. The Goldman Sachs Group restated a “buy” rating and set a $341.00 price target on shares of Public Storage in a report on Wednesday, April 29th. Scotiabank raised their price target on Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Finally, Citigroup boosted their price objective on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $326.16.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the company’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 filing with the SEC, which is available at the SEC website. 11.10% of the stock is owned by company insiders.

Public Storage Stock Up 0.7%

Shares of NYSE:PSA opened at $325.37 on Thursday. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. The business has a 50 day simple moving average of $322.45 and a two-hundred day simple moving average of $305.77. The firm has a market capitalization of $57.14 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 3.81 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66.

Public Storage (NYSE:PSA) last released 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. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm posted $4.28 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities analysts predict that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage’s payout ratio is presently 114.50%.

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.