Kingsview Wealth Management LLC Acquires New Position in Public Storage $PSA

Kingsview Wealth Management LLC bought a new position in shares of Public Storage (NYSE:PSA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,862 shares of the real estate investment trust’s stock, valued at approximately $593,000.

Other large investors have also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in Public Storage by 13.3% in the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after buying an additional 373 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Public Storage during the second quarter worth about $929,000. Nebula Research & Development LLC acquired a new position in Public Storage during the second quarter worth about $1,113,000. Treasurer of the State of North Carolina lifted its holdings in shares of Public Storage by 1.9% in the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock worth $21,647,000 after acquiring an additional 1,390 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of Public Storage by 219.8% in the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock worth $14,140,000 after acquiring an additional 33,122 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is owned by insiders.

Public Storage Stock Up 0.0%

Shares of NYSE PSA opened at $313.65 on Monday. The company has a 50 day simple moving average of $322.34 and a 200 day simple moving average of $307.61. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. The firm has a market cap of $55.08 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 3.69 and a beta of 0.96.

Public Storage (NYSE:PSA) last announced its quarterly 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 net margin of 41.80% and a return on equity of 40.98%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company posted $4.28 EPS. The company’s revenue 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, research analysts forecast that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. Public Storage’s payout ratio is currently 114.50%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PSA. JPMorgan Chase & Co. raised their price target on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Royal Bank Of Canada upped their price objective on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Mizuho increased 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. Truist Financial raised their target price on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Scotiabank boosted their target price on shares of Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus target price of $326.16.

About Public Storage

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.