Public Storage $PSA Shares Acquired by Kestra Private Wealth Services LLC

Key Points

• Kestra Private Wealth Services LLC boosted its stake in Public Storage by 72.2% in the first quarter, bringing its holdings to 7,526 shares worth about $2.0 million.
• Institutional ownership remains heavy, with 78.79% of Public Storage shares held by institutional investors and hedge funds. Several large firms, including Vanguard and Capital International Investors, also increased their positions.
• Analysts are mixed on PSA: the consensus rating is Hold, with an average price target of $324.68. Public Storage also reported quarterly EPS of $2.71, beating estimates, and announced a $3.00 quarterly dividend.

Kestra Private Wealth Services LLC lifted its stake in Public Storage (NYSE:PSA - Free Report) by 72.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,526 shares of the real estate investment trust's stock after purchasing an additional 3,155 shares during the period. Kestra Private Wealth Services LLC's holdings in Public Storage were worth $2,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSA. Vanguard Group Inc. grew its position in shares of 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 worth $6,576,534,000 after buying an additional 2,274,397 shares in the last quarter. Norges Bank acquired a new stake in Public Storage in the fourth quarter valued at approximately $1,163,751,000. Capital International Investors raised its holdings in Public Storage by 821.4% in 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 acquiring an additional 3,686,211 shares in the last quarter. Geode Capital Management LLC lifted its stake in Public Storage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust's stock worth $1,056,976,000 after acquiring an additional 66,445 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its stake in Public Storage by 9.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust's stock worth $1,036,375,000 after acquiring an additional 339,882 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, May 20th. Citigroup boosted their target price on shares of Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Barclays cut their price target on Public Storage from $352.00 to $349.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. William Blair set a $305.00 price target on Public Storage in a research note on Monday, March 16th. Finally, Evercore lifted their price target on Public Storage from $317.00 to $318.00 in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Public Storage presently has a consensus rating of "Hold" and an average price target of $324.68.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares of the company's stock, valued at approximately $459,281.34. The trade was a 40.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.10% of the company's stock.

Public Storage Stock Up 0.0%

Shares of NYSE:PSA opened at $324.46 on Monday. The firm has a 50 day simple moving average of $309.20 and a 200-day simple moving average of $292.12. Public Storage has a twelve month low of $256.54 and a twelve 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. The company has a market capitalization of $56.96 billion, a PE ratio of 33.48, a P/E/G ratio of 4.36 and a beta of 0.98.

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

Public Storage Announces Dividend

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

Public Storage 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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