Pure Financial Advisors LLC Purchases New Position in Public Storage $PSA

Pure Financial Advisors LLC acquired a new stake in shares of Public Storage (NYSE:PSA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,810 shares of the real estate investment trust’s stock, valued at approximately $576,000.

A number of other hedge funds have also added to or reduced their stakes in PSA. Transamerica Financial Advisors LLC purchased a new stake in shares of Public Storage in the second quarter worth $313,000. Adelante Capital Management LLC purchased a new position in shares of Public Storage in the second quarter valued at $10,347,000. Corient Private Wealth LP bought a new stake in shares of Public Storage in the 2nd quarter worth about $20,329,000. Pingora Partners LLC bought a new position in shares of Public Storage during the 2nd quarter valued at approximately $223,000. Finally, Ausdal Financial Partners Inc. bought a new stake in shares of Public Storage in the 2nd quarter worth about $219,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PSA. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Royal Bank Of Canada lifted their price objective on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. BMO Capital Markets raised their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Finally, 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. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Hold” and a consensus target price of $326.16.

Insider Activity

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

Public Storage Stock Down 1.7%

Shares of NYSE:PSA opened at $317.25 on Thursday. The firm’s 50-day moving average is $322.57 and its two-hundred day moving average is $307.26. 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 has a 1 year low of $256.54 and a 1 year high of $335.55. The firm has a market capitalization of $55.72 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping the consensus estimate of $2.53 by $1.64. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts predict that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders 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 dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s payout ratio is currently 114.50%.

About Public Storage

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.