Benjamin Edwards Inc. Buys 3,343 Shares of Public Storage $PSA

Benjamin Edwards Inc. lifted its stake in shares of Public Storage (NYSE:PSA) by 25.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,577 shares of the real estate investment trust’s stock after buying an additional 3,343 shares during the period. Benjamin Edwards Inc.’s holdings in Public Storage were worth $5,277,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Bruce G. Allen Investments LLC grew its stake in shares of Public Storage by 89.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage in the third quarter valued at about $27,000. Bayban bought a new position in shares of Public Storage during the fourth quarter valued at about $26,000. Meeder Asset Management Inc. bought a new position in shares of Public Storage during the second quarter valued at about $36,000. Finally, Wealth Watch Advisors INC purchased a new position in Public Storage during the third quarter worth about $34,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the 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 can be accessed through the SEC website. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Up 0.0%

PSA opened at $313.65 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The stock has a market cap of $55.08 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.69 and a beta of 0.96. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The company’s 50-day moving average price is $322.34 and its two-hundred day moving average price is $307.61.

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, beating analysts’ consensus estimates 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 the consensus estimate of $1.23 billion. During the same period in the prior year, the firm earned $4.28 EPS. The company’s revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, equities analysts expect that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The company 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 is Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.8%. Public Storage’s dividend payout ratio is presently 114.50%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of recent analyst reports. Raymond James Financial initiated coverage on shares of Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating for the company. Evercore set a $316.00 target price on Public Storage in a research note on Monday, July 6th. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Truist Financial increased their price target on Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group lifted their price target on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Public Storage has a consensus rating of “Hold” and an average price target of $326.16.

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.