Sequoia Financial Advisors LLC Purchases 2,129 Shares of Public Storage $PSA

Sequoia Financial Advisors LLC lifted its holdings in Public Storage (NYSE:PSA) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,731 shares of the real estate investment trust’s stock after acquiring an additional 2,129 shares during the period. Sequoia Financial Advisors LLC’s holdings in Public Storage were worth $5,074,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bayban purchased a new position in shares of Public Storage during the fourth quarter valued at about $26,000. Harvest Fund Management Co. Ltd purchased a new stake in Public Storage during the 3rd quarter valued at $27,000. Wealth Watch Advisors INC bought a new stake in shares of Public Storage in the 3rd quarter worth about $34,000. Raiffeisen Bank International AG lifted its stake in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares during the last quarter. Finally, Knuff & Co LLC bought a new stake in shares of Public Storage during the 4th quarter worth approximately $38,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of research analyst reports. Citigroup upped 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 reaffirmed an “equal weight” rating and set a $349.00 target price on shares of Public Storage in a research report on Friday. Truist Financial lifted their price objective on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. upped their target price on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 target price on shares of Public Storage in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Hold” and a consensus price target of $325.37.

Public Storage Price Performance

Shares of PSA stock opened at $320.59 on Monday. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The company has a market capitalization of $56.28 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 4.31 and a beta of 0.96. The firm’s 50-day moving average is $312.92 and its two-hundred day moving average is $296.11. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.29. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Analysts predict that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.

Insider Activity at Public Storage

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

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.