Diversify Wealth Management LLC Buys 2,693 Shares of Public Storage $PSA

Diversify Wealth Management LLC boosted its stake in Public Storage (NYSE:PSA) by 279.9% during the first quarter, HoldingsChannel reports. The firm owned 3,655 shares of the real estate investment trust’s stock after buying an additional 2,693 shares during the period. Diversify Wealth Management LLC’s holdings in Public Storage were worth $1,075,000 at the end of the most recent reporting period.

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

Insider Activity

In related 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 value of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PSA. Citigroup raised their price target on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. JPMorgan Chase & Co. increased their price objective on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Evercore set a $316.00 price objective on Public Storage in a report on Monday, July 6th. Finally, Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Hold” and an average target price of $325.37.

Public Storage Stock Performance

Shares of NYSE:PSA opened at $314.68 on Thursday. 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 50-day moving average price of $313.82 and a 200-day moving average price of $297.33. The company has a market cap of $55.24 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 4.29 and a beta of 0.96. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79.

Public Storage (NYSE:PSA) last released 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 business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities analysts anticipate that Public Storage will post 16.94 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced 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 payout ratio is presently 123.84%.

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.