Elevation Point Wealth Partners LLC Buys New Stake in Public Storage $PSA

Elevation Point Wealth Partners LLC purchased a new position in shares of Public Storage (NYSE:PSA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,864 shares of the real estate investment trust’s stock, valued at approximately $912,000.

A number of other large investors have also modified their holdings of PSA. V Square Quantitative Management LLC raised its holdings 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 purchasing an additional 34 shares during the period. Gryphon Financial Partners LLC grew its holdings in 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. increased its position 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 buying an additional 37 shares in the last quarter. Raiffeisen Bank International AG raised 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 worth $37,000 after buying an additional 37 shares during the period. Finally, Chesapeake Capital Corp IL raised its stake in shares of Public Storage by 1.3% during the 2nd quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock worth $953,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were 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 can be accessed through this hyperlink. 11.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 price objective on shares of Public Storage in a report on Wednesday, April 29th. Mizuho boosted their target price on shares of Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Raymond James Financial began coverage on shares of Public Storage in a research report on Thursday, July 16th. They set a “market perform” rating for the company. Finally, Barclays raised their price target on shares of Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 19th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $326.16.

Public Storage Stock Performance

NYSE:PSA opened at $324.95 on Tuesday. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The company has a market cap of $57.07 billion, a P/E ratio of 31.01, a P/E/G ratio of 3.80 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The company’s 50-day moving average price is $322.42 and its 200-day moving average price is $306.78.

Public Storage (NYSE:PSA) last released its 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 business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The business’s revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, sell-side 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 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 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is currently 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.