Global Retirement Partners LLC Purchases New Stake in Public Storage $PSA

Global Retirement Partners LLC acquired a new stake in Public Storage (NYSE:PSA) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 3,792 shares of the real estate investment trust’s stock, valued at approximately $1,207,000.

Several other hedge funds and other institutional investors have also modified their holdings of PSA. Silverlake Wealth Management LLC acquired a new stake in Public Storage in the 2nd quarter worth about $798,000. Bank of New York Mellon Corp bought a new position in shares of Public Storage during the second quarter worth approximately $321,799,000. Avalon Trust Co bought a new position in shares of Public Storage during the second quarter worth approximately $63,000. Family Legacy Inc. acquired a new stake in shares of Public Storage in the second quarter valued at approximately $995,000. Finally, Everett Harris & Co. CA bought a new stake in shares of Public Storage in the second quarter valued at approximately $465,000. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the subject of several analyst reports. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $341.00 price target on shares of Public Storage in a research note on Wednesday, April 29th. UBS Group raised their target price on shares of Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Jefferies Financial Group raised their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Barclays reissued an “equal weight” rating and set a $349.00 price target on shares of Public Storage in a report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $326.05.

Public Storage Price Performance

Shares of NYSE:PSA opened at $324.34 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The stock has a market cap of $56.96 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 3.84 and a beta of 0.96. The stock’s fifty day simple moving average is $322.41 and its two-hundred day simple moving average is $305.08. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage (NYSE:PSA) last posted its quarterly earnings data 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 analysts’ expectations of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, analysts forecast that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend 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%.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.10% of the company’s stock.

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.