Beacon Pointe Advisors LLC Purchases New Shares in Public Storage $PSA

Key Points

• Beacon Pointe Advisors acquired 8,890 shares of Public Storage in the second quarter, valued at approximately $2.83 million. Institutional investors and hedge funds collectively own 78.79% of PSA.
• Public Storage reported quarterly EPS of $4.17, beating estimates of $2.53, while revenue reached $1.23 billion and declined 0.5% year over year. The company issued fiscal 2026 EPS guidance of $16.75 to $17.05.
• Public Storage declared a quarterly dividend of $3.00 per share, equivalent to $12.00 annually and a 3.8% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $326.16.

Beacon Pointe Advisors LLC acquired a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,890 shares of the real estate investment trust's stock, valued at approximately $2,830,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bayban purchased a new position in shares of Public Storage in the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the third quarter valued at $27,000. Bruce G. Allen Investments LLC increased its position in Public Storage by 89.6% during the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 43 shares during the last quarter. Wealth Watch Advisors INC purchased a new stake in shares of Public Storage in the third quarter valued at $34,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Public Storage in the second quarter valued at $36,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

PSA opened at $313.65 on Friday. The company has a market capitalization of $55.08 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.69 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The business's fifty day simple moving average is $322.34 and its 200-day simple moving average is $307.48.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.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 previous year, the company posted $4.28 earnings per share. The firm's quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities research analysts anticipate that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be issued a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. Public Storage's payout ratio is currently 114.50%.

Analyst Ratings Changes

A number of equities analysts recently commented on PSA shares. Weiss Ratings raised shares of Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 12th. Scotiabank raised their price objective on shares of Public Storage from $345.00 to $346.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 18th. Truist Financial boosted their target price on Public Storage from $302.00 to $338.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Jefferies Financial Group upped their target price on Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, May 20th. Finally, Citigroup increased their price target on Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $326.16.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.10% of the company's stock.

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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