Michels Family Financial LLC Invests $882,000 in Public Storage $PSA

Michels Family Financial LLC purchased a new position in shares of Public Storage (NYSE:PSA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 3,399 shares of the real estate investment trust’s stock, valued at approximately $882,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Public Storage by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares in the last quarter. Norges Bank acquired a new stake in shares of Public Storage in the fourth quarter valued at $1,163,751,000. Capital International Investors increased its stake in shares of Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after buying an additional 3,686,211 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Public Storage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock valued at $1,056,976,000 after buying an additional 66,445 shares during the last quarter. Finally, Cohen & Steers Inc. raised its holdings in shares of Public Storage by 9.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock valued at $1,036,375,000 after buying an additional 339,882 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PSA. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Citigroup raised their price objective on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group upped their target price on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. UBS Group upped their target price on shares of Public Storage from $276.00 to $314.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Finally, Evercore increased their price target on shares of Public Storage from $306.00 to $317.00 in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and a consensus price target of $323.53.

Public Storage Stock Up 1.8%

Shares of NYSE:PSA opened at $318.12 on Friday. Public Storage has a one year low of $256.54 and a one year high of $331.79. The company has a 50 day moving average of $306.32 and a 200-day moving average of $290.14. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $55.85 billion, a price-to-earnings ratio of 32.83, a P/E/G ratio of 4.26 and a beta of 0.98.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business posted $4.12 earnings per share. Public Storage’s 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. On average, sell-side analysts forecast that Public Storage will post 16.92 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. Public Storage’s payout ratio is presently 123.84%.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the transaction, the insider owned 1,414 shares of the company’s stock, valued at $459,281.34. This represents a 40.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.10% of the company’s stock.

Public Storage Company 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.