Public Storage $PSA Stock Purchased by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Public Storage stake by 24.4% during the second quarter, bringing its holdings to 238,796 shares valued at approximately $76 million. Institutional investors collectively own 78.79% of PSA.
• Analysts raised several price targets, including Citigroup’s to $363 and Truist’s to $338, but the overall consensus remains “Hold” with a $326.21 target price.
• Public Storage beat quarterly EPS estimates with $4.17 versus $2.53 expected and declared a $3.00 quarterly dividend, equivalent to a 4.2% annualized yield.

Envestnet Asset Management Inc. increased its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 24.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 238,796 shares of the real estate investment trust's stock after purchasing an additional 46,907 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of Public Storage worth $76,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PSA. Bayban purchased a new position in shares of Public Storage during the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC grew its position in 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 worth $29,000 after purchasing an additional 43 shares during the period. Continuum Advisory LLC bought a new stake in Public Storage in the 2nd quarter worth approximately $29,000. Meeder Asset Management Inc. purchased a new stake in Public Storage during the 2nd quarter valued at $36,000. Finally, Reflection Asset Management purchased a new stake in Public Storage during the 4th quarter valued at $39,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on PSA shares. Truist Financial upped their price objective on Public Storage from $302.00 to $338.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. BMO Capital Markets raised their target price on Public Storage from $305.00 to $340.00 and gave the stock a "market perform" rating in a research report on Monday, June 15th. UBS Group boosted their price target on Public Storage from $314.00 to $326.00 and gave the company a "neutral" rating in a research note on Friday, July 10th. Citigroup upped their price target on shares of Public Storage from $325.00 to $363.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Finally, Raymond James Financial assumed coverage on shares of Public Storage in a research note on Thursday, July 16th. They issued a "market perform" rating on the stock. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, Public Storage currently has a consensus rating of "Hold" and a consensus target price of $326.21.

Public Storage Price Performance

Shares of NYSE:PSA opened at $288.16 on Friday. The firm has a market cap of $50.61 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 4.25 and a beta of 0.95. The firm has a fifty day moving average price of $312.24 and a 200 day moving average price of $306.78. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $1.64. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. Public Storage's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts expect that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.2%. Public Storage's dividend payout ratio (DPR) is presently 114.50%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction dated Thursday, August 13th. The stock was 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 SEC, which is available through the SEC website. 11.10% of the stock is currently owned by insiders.

Public Storage Company Profile

Public Storage is a real estate investment trust that owns, operates and develops self-storage facilities in the United States. The company provides customers with storage units for household goods, business inventory, vehicles and other personal or commercial belongings.

Its facilities offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, electronic gate access and online account management. Public Storage also provides related services, including tenant insurance options and moving and packing supplies at select locations.

Founded in 1972 and headquartered in Glendale, California, Public Storage serves customers through a nationwide network of self-storage properties.

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