Public Storage $PSA Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its position in shares of Public Storage (NYSE:PSA) by 12.8% during the first quarter, Holdings Channel reports. The institutional investor owned 18,731 shares of the real estate investment trust’s stock after buying an additional 2,129 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Public Storage were worth $5,074,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in shares of Public Storage by 13.3% in the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 373 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Public Storage in the second quarter valued at $929,000. Nebula Research & Development LLC purchased a new position in Public Storage in the second quarter valued at $1,113,000. Treasurer of the State of North Carolina raised its stake in 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 valued at $21,647,000 after buying an additional 1,390 shares in the last quarter. Finally, Ieq Capital LLC raised its stake in 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 valued at $14,140,000 after buying an additional 33,122 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $320.59 on Monday. The business’s 50-day moving average price is $312.92 and its 200 day moving average price is $296.11. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The firm has a market cap of $56.28 billion, a P/E ratio of 33.09, a P/E/G ratio of 4.31 and a beta of 0.96.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. Public Storage’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities research analysts expect that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is 123.84%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

PSA has been the subject of several analyst reports. Citigroup upped their price objective on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. BMO Capital Markets raised their target price on Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research report on Monday, June 15th. Barclays restated an “equal weight” rating and set a $349.00 target price on shares of Public Storage in a research note on Friday. Truist Financial upped their price target on Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Mizuho increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $325.37.

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.