Elevation Point Wealth Partners LLC Buys Shares of 2,864 Public Storage $PSA

Elevation Point Wealth Partners LLC bought a new stake in shares of Public Storage (NYSE:PSA) in the second quarter, Holdings Channel reports. The firm bought 2,864 shares of the real estate investment trust’s stock, valued at approximately $912,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Public Storage by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after buying an additional 2,274,397 shares during the period. BlackRock Inc. acquired a new position in shares of Public Storage in the second quarter worth $5,495,077,000. Norges Bank purchased a new stake in shares of Public Storage during the fourth quarter worth $1,163,751,000. Capital International Investors raised its stake in shares of Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after acquiring an additional 3,686,211 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Public Storage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock valued at $1,056,976,000 after purchasing an additional 66,445 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.10% of the company’s stock.

Public Storage Price Performance

PSA stock opened at $324.95 on Tuesday. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55. The stock’s fifty day simple moving average is $322.42 and its 200-day simple moving average is $306.78. 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 stock has a market capitalization of $57.07 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. Public Storage’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities research analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Raymond James Financial started coverage on Public Storage in a report on Thursday, July 16th. They issued a “market perform” rating on the stock. Royal Bank Of Canada raised their target price on Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Evercore set a $316.00 price target on Public Storage in a report on Monday, July 6th. BMO Capital Markets raised their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $326.16.

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.