Stegent Equity Advisors Inc. Purchases Shares of 1,560 Public Storage $PSA

Stegent Equity Advisors Inc. purchased a new stake in Public Storage (NYSE:PSA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,560 shares of the real estate investment trust’s stock, valued at approximately $423,000.

A number of other hedge funds also recently made changes to their positions in PSA. Empowered Funds LLC boosted its holdings 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 acquiring an additional 373 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Public Storage during the 2nd quarter worth approximately $929,000. Nebula Research & Development LLC bought a new position in Public Storage during the 2nd quarter worth approximately $1,113,000. Treasurer of the State of North Carolina lifted its position in shares of Public Storage by 1.9% in the 2nd 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 purchasing an additional 1,390 shares during the period. Finally, Ieq Capital LLC lifted its position in shares of Public Storage by 219.8% in the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock worth $14,140,000 after purchasing an additional 33,122 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PSA shares. Royal Bank Of Canada increased their price objective on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. William Blair set a $305.00 target price on shares of Public Storage in a report on Monday, March 16th. Scotiabank upped their target price on Public Storage from $340.00 to $342.00 and gave the company a “sector outperform” rating in a research report on Thursday, June 18th. Jefferies Financial Group increased 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. Finally, Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $324.68.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Up 1.5%

Shares of NYSE:PSA opened at $323.20 on Thursday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79. The business’s 50 day simple moving average is $310.06 and its two-hundred day simple moving average is $293.24. The firm has a market cap of $56.74 billion, a P/E ratio of 33.35, a PEG ratio of 4.28 and a beta of 0.96.

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

Public Storage Dividend Announcement

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

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.