Allworth Financial LP Buys New Position in Public Storage $PSA

Key Points

• Allworth Financial LP acquired 9,406 Public Storage shares during the second quarter, worth approximately $2.99 million. Institutional investors and hedge funds collectively own 78.79% of PSA.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $326.16; seven analysts rate the stock a Buy versus fourteen Holds.
• Public Storage reported quarterly EPS of $4.17, exceeding estimates of $2.53, while revenue was $1.23 billion and down 0.5% year over year. The company declared a $3.00 quarterly dividend, equivalent to a 3.7% yield.

Allworth Financial LP purchased a new position in Public Storage (NYSE:PSA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,406 shares of the real estate investment trust's stock, valued at approximately $2,994,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bayban acquired a new position in shares of Public Storage in the 4th quarter worth $26,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Public Storage during the third quarter valued at $27,000. Bruce G. Allen Investments LLC boosted its position 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 valued at $29,000 after purchasing an additional 43 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of Public Storage in the 3rd quarter valued at $34,000. Finally, Meeder Asset Management Inc. purchased a new position in Public Storage in the 2nd quarter worth about $36,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on PSA. Raymond James Financial started coverage on Public Storage in a report on Thursday, July 16th. They set a "market perform" rating on the stock. Barclays raised their target price on shares of Public Storage from $349.00 to $350.00 and gave the stock an "equal weight" rating in a report on Wednesday. Jefferies Financial Group boosted their price target on shares of Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. BNP Paribas Exane boosted their price target on shares of Public Storage from $331.00 to $335.00 and gave the company an "outperform" rating in a report on Friday, May 22nd. Finally, Royal Bank Of Canada upped their price target on shares of Public Storage from $305.00 to $318.00 and gave the company a "sector perform" rating in a research report on Friday, July 31st. 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, Public Storage currently has a consensus rating of "Hold" and an average price target of $326.16.

Public Storage Trading Up 0.0%

Shares of NYSE:PSA opened at $322.76 on Friday. The firm has a fifty day moving average of $322.35 and a two-hundred day moving average of $306.22. The firm has a market capitalization of $56.68 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping 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 business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business posted $4.28 earnings per share. Public Storage's revenue for the quarter was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage's dividend payout ratio is presently 114.50%.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is currently 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.

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