Wealthfront Advisers LLC Acquires New Position in Public Storage $PSA

Wealthfront Advisers LLC acquired a new stake in Public Storage (NYSE:PSA) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 29,758 shares of the real estate investment trust’s stock, valued at approximately $9,472,000.

A number of other hedge funds have also added to or reduced their stakes in PSA. V Square Quantitative Management LLC increased its position in shares of Public Storage by 2.2% during 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 acquiring an additional 34 shares during the period. Gryphon Financial Partners LLC boosted its holdings in shares of Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 36 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Public Storage by 1.7% in the fourth 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 purchasing an additional 37 shares during the period. Raiffeisen Bank International AG grew its stake in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Chesapeake Capital Corp IL grew its stake in Public Storage by 1.3% in the second quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock worth $953,000 after purchasing an additional 38 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction dated Thursday, August 13th. The stock was 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 SEC, which is available at the SEC website. 11.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on PSA shares. Barclays raised their price objective on Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday. Raymond James Financial assumed coverage on Public Storage in a research report on Thursday, July 16th. They set a “market perform” rating on the stock. Evercore set a $316.00 price target on Public Storage in a research report on Monday, July 6th. Royal Bank Of Canada raised their price target on Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Finally, Citigroup lifted their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $326.16.

Public Storage Stock Up 0.7%

Public Storage stock opened at $325.37 on Thursday. The business has a fifty day moving average of $322.45 and a two-hundred day moving average of $305.77. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The firm has a market cap of $57.14 billion, a P/E ratio of 31.05, a P/E/G ratio of 3.81 and a beta of 0.96. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55.

Public Storage (NYSE:PSA) last announced its earnings results 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 quarter last year, the firm earned $4.28 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, analysts forecast that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given 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 dividend payout ratio (DPR) is presently 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.