Janney Montgomery Scott LLC Increases Stock Holdings in Public Storage $PSA

Key Points

• Janney Montgomery Scott LLC increased its stake in Public Storage by 19% in the first quarter, buying 13,535 additional shares and bringing its total holdings to 84,913 shares worth about $23.0 million.
• Public Storage reported Q1 EPS of $2.71, beating estimates of $2.42, while revenue came in at $1.22 billion, in line with expectations. The company also issued FY 2026 guidance of 16.35 to 17.00 EPS.
• The REIT declared a quarterly dividend of $3.00 per share, or $12 annualized, yielding about 3.7%. Meanwhile, analysts remain mixed, with a consensus Hold rating and an average price target of $324.68.

Janney Montgomery Scott LLC raised its position in shares of Public Storage (NYSE:PSA - Free Report) by 19.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 84,913 shares of the real estate investment trust's stock after purchasing an additional 13,535 shares during the quarter. Janney Montgomery Scott LLC's holdings in Public Storage were worth $23,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Public Storage in the fourth quarter worth approximately $1,163,751,000. Capital International Investors increased its holdings in Public Storage by 821.4% during the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust's stock valued at $1,073,032,000 after buying an additional 3,686,211 shares during the last quarter. Vanguard Group Inc. increased its holdings in Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust's stock valued at $6,576,534,000 after buying an additional 2,274,397 shares during the last quarter. First Trust Advisors LP raised its position 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 acquiring an additional 535,465 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust's stock worth $166,970,000 after acquiring an additional 481,872 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE:PSA opened at $324.33 on Tuesday. The stock has a 50-day moving average price of $309.65 and a 200 day moving average price of $292.53. The stock has a market capitalization of $56.94 billion, a P/E ratio of 33.47, a P/E/G ratio of 4.36 and a beta of 0.98. Public Storage has a 12-month low of $256.54 and a 12-month high of $331.79. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02.

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

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage's dividend payout ratio (DPR) is presently 123.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PSA. Scotiabank boosted their price objective on shares of Public Storage from $340.00 to $342.00 and gave the company a "sector outperform" rating in a research report on Thursday, June 18th. Wall Street Zen raised Public Storage from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Mizuho lifted their target price on Public Storage from $301.00 to $316.00 and gave the company a "neutral" rating in a research report on Wednesday, May 27th. Jefferies Financial Group boosted their price target on Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Finally, BNP Paribas Exane upped their price target on Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $324.68.

Insider Transactions at Public Storage

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

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.

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