Wealthfront Advisers LLC Raises Position in Public Storage $PSA

Wealthfront Advisers LLC increased its stake in Public Storage (NYSE:PSA) by 26.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,403 shares of the real estate investment trust’s stock after purchasing an additional 6,131 shares during the quarter. Wealthfront Advisers LLC’s holdings in Public Storage were worth $7,965,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC increased its position in Public Storage by 2.2% in the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 34 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 37 shares during the last quarter. Raiffeisen Bank International AG lifted its position in shares of Public Storage by 35.2% during the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 37 shares during the last quarter. Doliver Advisors LP grew its stake in shares of Public Storage by 1.0% during the 4th quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust’s stock worth $1,071,000 after acquiring an additional 39 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its stake in shares of Public Storage by 0.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust’s stock worth $1,451,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the subject of several recent research reports. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Barclays reiterated an “equal weight” rating and set a $349.00 target price on shares of Public Storage in a research report on Friday, July 10th. Truist Financial lifted their target price on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, UBS Group boosted their price target on shares of Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $325.37.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction dated 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 directly 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 at this link. 11.10% of the stock is owned by insiders.

Public Storage Price Performance

Public Storage stock opened at $318.33 on Friday. Public Storage has a one year low of $256.54 and a one year high of $331.79. The business has a fifty day moving average price of $314.27 and a 200-day moving average price of $297.92. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $55.88 billion, a P/E ratio of 32.85, a PEG ratio of 4.36 and a beta of 0.96.

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

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, June 15th. Public Storage’s payout ratio is presently 123.84%.

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.