Spartan Wealth Advisory Services LLC Acquires New Holdings in Public Storage $PSA

Key Points

• Spartan Wealth Advisory Services opened a new position in Public Storage, buying 7,946 shares worth about $2.15 million in the first quarter.
• Other institutional investors also adjusted their stakes, and 78.79% of Public Storage shares are now held by institutions and hedge funds.
• Analysts remain mixed on PSA: the stock has a Hold consensus rating with an average target price of $325.37, while the company recently posted quarterly EPS of $2.71, beating estimates.

Spartan Wealth Advisory Services LLC bought a new position in shares of Public Storage (NYSE:PSA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,946 shares of the real estate investment trust's stock, valued at approximately $2,152,000.

Several other large investors have also modified their holdings of the business. V Square Quantitative Management LLC raised its position in shares of Public Storage by 2.2% during the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust's stock worth $419,000 after purchasing an additional 34 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in Public Storage by 2.6% during the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust's stock valued at $385,000 after buying an additional 36 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust's stock valued at $575,000 after buying an additional 37 shares during the last quarter. Raiffeisen Bank International AG increased its position in Public Storage by 35.2% during the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock worth $37,000 after buying an additional 37 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its position in Public Storage by 0.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust's stock worth $1,451,000 after buying an additional 39 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSA has been the topic of several recent research reports. UBS Group upped their price objective on Public Storage from $314.00 to $326.00 and gave the company a "neutral" rating in a research report on Friday, July 10th. Barclays reiterated an "equal weight" rating and set a $349.00 price objective on shares of Public Storage in a research report on Friday, July 10th. BNP Paribas Exane raised their price target on shares of Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, May 22nd. BMO Capital Markets lifted their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a "market perform" rating in a report on Monday, June 15th. Finally, Evercore set a $316.00 price objective on shares of Public Storage in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $325.37.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.10% of the stock is currently owned by corporate insiders.

Public Storage Price Performance

Shares of NYSE:PSA opened at $318.33 on Friday. The company has a market cap of $55.88 billion, a P/E ratio of 32.85, a P/E/G ratio of 4.28 and a beta of 0.96. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 52 week low of $256.54 and a 52 week high of $331.79. The business has a fifty day simple moving average of $314.27 and a 200-day simple moving average of $297.92.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $4.12 earnings per share. The business's quarterly revenue was down .1% compared to the same quarter last year. 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 year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. Public Storage's dividend payout ratio is currently 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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