Flavin Financial Services Inc. Makes New Investment in Public Storage $PSA

Flavin Financial Services Inc. acquired a new stake in shares of Public Storage (NYSE:PSA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,819 shares of the real estate investment trust’s stock, valued at approximately $897,000.

A number of other hedge funds have also recently modified their holdings of PSA. Bruce G. Allen Investments LLC grew its holdings in Public Storage by 89.6% in 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. Harvest Fund Management Co. Ltd purchased a new position in shares of Public Storage during the third quarter valued at approximately $27,000. Bayban purchased a new position in shares of Public Storage during the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. bought a new stake in shares of Public Storage in the 2nd quarter worth approximately $36,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Public Storage in the 3rd quarter worth approximately $34,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $322.76 on Monday. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The company has a market capitalization of $56.68 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The firm has a 50 day moving average of $322.35 and a 200 day moving average of $306.46. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the firm posted $4.28 EPS. The firm’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. As a group, equities research analysts anticipate that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on PSA. Citigroup raised their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Truist Financial boosted their target price on Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Jefferies Financial Group increased their target price on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. raised their price target on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, Scotiabank lifted 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, August 18th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $326.16.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.10% of the stock is currently owned by insiders.

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.