Public Storage $PSA Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its position in shares of Public Storage (NYSE:PSA) by 38.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,119 shares of the real estate investment trust’s stock after purchasing an additional 4,189 shares during the quarter. Wealthfront Advisers LLC’s holdings in Public Storage were worth $4,436,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PSA. Private Trust Co. NA boosted its holdings in Public Storage by 228.1% during the first quarter. Private Trust Co. NA now owns 2,139 shares of the real estate investment trust’s stock worth $640,000 after buying an additional 1,487 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of Public Storage by 43.3% in the first quarter. Summit Trail Advisors LLC now owns 3,619 shares of the real estate investment trust’s stock worth $1,083,000 after acquiring an additional 1,093 shares during the period. TCW Group Inc. boosted its stake in shares of Public Storage by 5.2% during the 1st quarter. TCW Group Inc. now owns 13,696 shares of the real estate investment trust’s stock worth $4,099,000 after acquiring an additional 676 shares in the last quarter. Meritage Portfolio Management acquired a new stake in shares of Public Storage during the 1st quarter valued at about $6,775,000. Finally, Jump Financial LLC acquired a new stake in shares of Public Storage during the 1st quarter valued at about $1,124,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Evercore ISI increased their price target on Public Storage from $312.00 to $317.00 and gave the stock a “cautious” rating in a research report on Friday, October 3rd. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. dropped their price target on shares of Public Storage from $324.00 to $321.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. Royal Bank Of Canada cut their price target on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating for the company in a report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $325.69.

Public Storage Stock Down 0.9%

NYSE PSA opened at $297.63 on Wednesday. The business has a fifty day moving average price of $293.01 and a 200 day moving average price of $293.13. Public Storage has a one year low of $256.60 and a one year high of $355.87. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $52.22 billion, a P/E ratio of 32.46, a P/E/G ratio of 4.90 and a beta of 0.89.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.23 EPS. Research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $3.00 dividend. The ex-dividend date was Monday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. Public Storage’s dividend payout ratio is presently 130.86%.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.