Independent Financial Group LLC Makes New $443,000 Investment in Public Storage $PSA

Independent Financial Group LLC acquired a new position in shares of Public Storage (NYSE:PSA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,634 shares of the real estate investment trust’s stock, valued at approximately $443,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC boosted its stake in Public Storage by 2.2% in the 1st 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. increased its stake 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 acquiring an additional 37 shares during the last quarter. Raiffeisen Bank International AG increased its stake 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 acquiring an additional 37 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its holdings 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. Finally, Deseret Mutual Benefit Administrators lifted its holdings in shares of Public Storage by 14.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 310 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.10% of the company’s stock.

Public Storage Trading Up 1.2%

NYSE PSA opened at $315.54 on Friday. Public Storage has a one year low of $256.54 and a one year high of $331.79. The company’s 50 day moving average price is $314.73 and its 200 day moving average price is $299.70. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $55.39 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 4.19 and a beta of 0.96.

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

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given 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 dividend payout ratio is 123.84%.

Analyst Upgrades and Downgrades

PSA has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Mizuho boosted their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. BNP Paribas Exane upped their price objective on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $341.00 target price on shares of Public Storage in a research report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, Public Storage presently has a consensus rating of “Hold” and an average target price of $325.37.

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.