Prestige Wealth Management Group LLC Acquires 2,194 Shares of Public Storage $PSA

Prestige Wealth Management Group LLC increased its holdings in shares of Public Storage (NYSE:PSA) by 2,925.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,269 shares of the real estate investment trust’s stock after purchasing an additional 2,194 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Public Storage were worth $615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Knights of Columbus Asset Advisors LLC lifted its stake in Public Storage by 25.3% in the 4th 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 purchasing an additional 3,763 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of 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 valued at $75,171,000 after purchasing an additional 9,618 shares during the last quarter. Principal Financial Group Inc. grew its position 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 purchasing an additional 12,444 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 purchasing an additional 25,353 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Public Storage by 4.5% during the fourth quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust’s stock valued at $506,487,000 after purchasing an additional 83,916 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSA. Barclays reiterated an “equal weight” rating and issued a $349.00 target price on shares of Public Storage in a research report on Friday, July 10th. Royal Bank Of Canada raised their price target on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Mizuho lifted their price objective on Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. UBS Group upped their price objective on Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. upped their price objective on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Hold” and a consensus target price of $325.37.

Public Storage Stock Performance

Public Storage stock opened at $311.80 on Thursday. The company’s 50-day moving average price is $314.47 and its 200-day moving average price is $299.30. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a market cap of $54.74 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 4.17 and a beta of 0.96.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities research analysts forecast that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Dividend Announcement

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