Public Storage $PSA Stock: Sowell Financial Services LLC Grows Position

Sowell Financial Services LLC increased its holdings in Public Storage (NYSE:PSA) by 119.7% in the third quarter, Holdings Channel.com reports. The firm owned 20,592 shares of the real estate investment trust’s stock after acquiring an additional 11,219 shares during the period. Sowell Financial Services LLC’s holdings in Public Storage were worth $5,824,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC acquired a new position in shares of Public Storage during the 2nd quarter worth about $195,808,000. Nykredit A S acquired a new position in shares of Public Storage during the 2nd quarter worth $17,378,000. PensionDanmark Pensionsforsikringsaktieselskab increased its position in shares of Public Storage by 15.6% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 26,610 shares of the real estate investment trust’s stock valued at $8,470,000 after buying an additional 3,588 shares in the last quarter. Greenland Capital Management LP raised its position in shares of Public Storage by 300.0% during the 2nd quarter. Greenland Capital Management LP now owns 6,600 shares of the real estate investment trust’s stock worth $2,101,000 after purchasing an additional 4,950 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in Public Storage by 25.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 16,577 shares of the real estate investment trust’s stock valued at $5,277,000 after purchasing an additional 3,343 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

PSA has been the subject of several research analyst reports. Raymond James Financial assumed coverage on Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating for the company. Barclays lifted their price objective on shares of Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a report on Thursday, September 10th. Mizuho lifted their price objective on shares of Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $318.00 target price on shares of Public Storage in a research report on Tuesday. Finally, UBS Group lowered their price objective on shares of Public Storage from $326.00 to $294.00 and set a “neutral” rating on the stock in a research note on Friday. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $323.42.

Public Storage Stock Up 2.1%

Shares of PSA opened at $301.81 on Wednesday. The company has a 50-day moving average price of $300.61 and a two-hundred day moving average price of $307.86. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The stock has a market cap of $53.00 billion, a price-to-earnings ratio of 28.80, a P/E/G ratio of 4.41 and a beta of 0.94.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $4.28 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities analysts predict that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 114.50%.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.