Moran Wealth Management LLC Reduces Holdings in Public Storage $PSA

Moran Wealth Management LLC reduced its stake in shares of Public Storage (NYSE:PSA) by 32.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,952 shares of the real estate investment trust’s stock after selling 1,878 shares during the period. Moran Wealth Management LLC’s holdings in Public Storage were worth $1,071,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC increased its position in Public Storage by 25.3% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock worth $4,829,000 after buying an additional 3,763 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Public Storage by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock valued at $118,576,000 after acquiring an additional 25,353 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Public Storage by 5.3% during the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock valued at $63,838,000 after acquiring an additional 12,444 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Public Storage by 3.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after purchasing an additional 9,618 shares in the last quarter. Finally, Swiss Life Asset Management Ltd increased its position in Public Storage by 16.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust’s stock worth $9,950,000 after purchasing an additional 4,762 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on PSA. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $341.00 price target on shares of Public Storage in a report on Wednesday, April 29th. Evercore set a $316.00 price objective on shares of Public Storage in a research report on Monday. Royal Bank Of Canada upped their price objective on shares of Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Finally, Scotiabank raised their target price on shares of Public Storage from $340.00 to $342.00 and gave the stock a “sector outperform” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $324.58.

Public Storage Trading Up 1.8%

NYSE PSA traded up $5.95 during trading hours on Tuesday, hitting $329.95. 47,664 shares of the company’s stock were exchanged, compared to its average volume of 1,109,167. The business’s 50 day moving average is $310.97 and its 200-day moving average is $294.03. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a 12-month low of $256.54 and a 12-month high of $331.79. The firm has a market capitalization of $57.92 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 4.43 and a beta of 0.96.

Public Storage (NYSE:PSA) last posted its quarterly 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 company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business earned $4.12 EPS. The firm’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. As a group, analysts anticipate that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.6%. Public Storage’s dividend payout ratio is 123.84%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction that occurred on 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 owned 1,414 shares of the company’s stock, valued at $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.