Kingsview Wealth Management LLC Buys New Shares in Public Storage $PSA

Kingsview Wealth Management LLC purchased a new stake in shares of Public Storage (NYSE:PSA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,862 shares of the real estate investment trust’s stock, valued at approximately $593,000.

Several other hedge funds have also recently made changes to their positions in the business. Bayban acquired a new position in shares of Public Storage in the 4th quarter valued at about $26,000. Harvest Fund Management Co. Ltd acquired a new stake in Public Storage during the third quarter worth approximately $27,000. Bruce G. Allen Investments LLC grew its stake in Public Storage by 89.6% during the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 43 shares during the period. Wealth Watch Advisors INC acquired a new stake in Public Storage during the third quarter worth approximately $34,000. Finally, Meeder Asset Management Inc. bought a new stake in Public Storage in the second quarter worth approximately $36,000. 78.79% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on PSA shares. Scotiabank boosted their price target on Public Storage from $345.00 to $346.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Evercore set a $316.00 price objective on shares of Public Storage in a research note on Monday, July 6th. Raymond James Financial started coverage on shares of Public Storage in a research report on Thursday, July 16th. They set a “market perform” rating on the stock. Finally, Barclays increased their target price on shares of Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, Public Storage has a consensus rating of “Hold” and a consensus target price of $326.16.

Public Storage Stock Up 0.0%

PSA stock opened at $313.65 on Monday. The stock’s 50 day simple moving average is $322.34 and its 200 day simple moving average is $307.61. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $55.08 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 3.69 and a beta of 0.96.

Public Storage (NYSE:PSA) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the firm posted $4.28 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, research analysts expect that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

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