Prestige Wealth Management Group LLC Increases Stake in Public Storage $PSA

Prestige Wealth Management Group LLC lifted its position in Public Storage (NYSE:PSA) by 2,925.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,269 shares of the real estate investment trust’s stock after acquiring an additional 2,194 shares during the period. Prestige Wealth Management Group LLC’s holdings in Public Storage were worth $615,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PSA. Norges Bank bought a new position in Public Storage during the 4th quarter valued at about $1,163,751,000. Capital International Investors raised its position in Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares during the period. Vanguard Group Inc. lifted its stake in Public Storage by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares during the last quarter. First Trust Advisors LP lifted its stake in Public Storage by 287.7% in the fourth quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock worth $187,252,000 after purchasing an additional 535,465 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after buying an additional 481,872 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PSA shares. JPMorgan Chase & Co. upped 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. BNP Paribas Exane raised their price target on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. BMO Capital Markets upped their price objective on Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Finally, Barclays reiterated an “equal weight” rating and issued a $349.00 target price on shares of Public Storage in a research note on Friday, July 10th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $325.37.

Public Storage Price Performance

Shares of PSA stock opened at $311.80 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $54.74 billion, a P/E ratio of 32.18, a P/E/G ratio of 4.17 and a beta of 0.96. The company’s 50-day simple moving average is $314.47 and its two-hundred day simple moving average is $299.30. Public Storage has a one year low of $256.54 and a one year high of $331.79.

Public Storage (NYSE:PSA) last issued its earnings results 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. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company posted $4.12 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities analysts anticipate that Public Storage will post 16.94 EPS for the current year.

Public Storage Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. The trade was a 40.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.10% of the stock is owned by insiders.

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.