Wealthfront Advisers LLC Has $7.96 Million Stock Position in Public Storage $PSA

Wealthfront Advisers LLC lifted its holdings in shares of Public Storage (NYSE:PSA) by 26.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,403 shares of the real estate investment trust’s stock after acquiring an additional 6,131 shares during the period. Wealthfront Advisers LLC’s holdings in Public Storage were worth $7,965,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSA. Empowered Funds LLC increased its holdings in Public Storage by 13.3% during the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after purchasing an additional 373 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Public Storage in the second quarter worth approximately $929,000. Nebula Research & Development LLC purchased a new stake in shares of Public Storage in the second quarter worth approximately $1,113,000. Treasurer of the State of North Carolina lifted its holdings in shares of Public Storage by 1.9% in the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock valued at $21,647,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of Public Storage by 219.8% in the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock valued at $14,140,000 after purchasing an additional 33,122 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $318.33 on Friday. The stock has a 50 day moving average of $314.27 and a 200 day moving average of $297.92. The company has a market capitalization of $55.88 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 4.36 and a beta of 0.96. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02.

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

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, June 15th. Public Storage’s payout ratio is 123.84%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PSA shares. JPMorgan Chase & Co. upped their price target on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Royal Bank Of Canada increased their target price on shares of Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Finally, Barclays reissued an “equal weight” rating and set a $349.00 price target on shares of Public Storage in a research report on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $325.37.

Insider Buying and Selling at Public Storage

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 transaction of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 11.10% of the company’s stock.

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.