Independent Financial Group LLC Acquires Shares of 1,634 Public Storage $PSA

Independent Financial Group LLC acquired a new stake in shares of Public Storage (NYSE:PSA) during the first quarter, Holdings Channel.com reports. The fund acquired 1,634 shares of the real estate investment trust’s stock, valued at approximately $443,000.

A number of other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC boosted its stake in shares of Public Storage by 2.2% in the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock valued at $419,000 after purchasing an additional 34 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in 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 worth $575,000 after buying an additional 37 shares during the period. Raiffeisen Bank International AG increased its stake in 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 worth $37,000 after buying an additional 37 shares during the period. Azzad Asset Management Inc. ADV lifted its holdings in Public Storage by 0.7% in 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 buying an additional 39 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its holdings in Public Storage by 14.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 310 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 40 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSA has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. BMO Capital Markets boosted their price target on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. UBS Group raised their price objective on Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Finally, BNP Paribas Exane upped their target price on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $325.37.

Public Storage Price Performance

PSA opened at $315.54 on Friday. The company has a 50-day moving average of $314.73 and a 200-day moving average of $299.70. The company has a market capitalization of $55.39 billion, a P/E ratio of 32.56, a PEG ratio of 4.19 and a beta of 0.96. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $2.42 by $0.29. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities analysts expect that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued 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 (DPR) is currently 123.84%.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction that occurred 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 transaction, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.10% of the company’s stock.

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.