Atria Wealth Solutions Inc. Has $1.56 Million Stock Position in Public Storage (NYSE:PSA)

Atria Wealth Solutions Inc. lessened its stake in shares of Public Storage (NYSE:PSA) by 15.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,404 shares of the real estate investment trust’s stock after selling 966 shares during the period. Atria Wealth Solutions Inc.’s holdings in Public Storage were worth $1,555,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Public Storage by 107.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 44 shares in the last quarter. Core Wealth Advisors Inc. purchased a new position in Public Storage during the 4th quarter worth approximately $30,000. EdgeRock Capital LLC acquired a new stake in Public Storage during the 4th quarter valued at $32,000. OFI Invest Asset Management purchased a new stake in shares of Public Storage in the second quarter valued at $32,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage in the second quarter worth $36,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 400 shares of Public Storage stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $274.29, for a total transaction of $109,716.00. Following the completion of the transaction, the insider now directly owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.00% of the stock is owned by insiders.

Analysts Set New Price Targets

PSA has been the topic of several recent analyst reports. Truist Financial lowered Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a research report on Thursday, August 1st. Scotiabank upped their target price on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price target for the company. in a report on Monday, August 5th. Wells Fargo & Company upped their price objective on shares of Public Storage from $310.00 to $320.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Evercore ISI lifted their target price on shares of Public Storage from $289.00 to $300.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $316.42.

Public Storage Price Performance

NYSE PSA opened at $333.24 on Friday. The firm has a market cap of $58.32 billion, a P/E ratio of 30.27, a price-to-earnings-growth ratio of 5.28 and a beta of 0.65. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50-day moving average is $301.34 and its two-hundred day moving average is $285.69. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $333.73.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). The company had revenue of $921.70 million during the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.28 earnings per share. On average, analysts anticipate that Public Storage will post 16.74 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $3.00 dividend. The ex-dividend date is Friday, September 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.60%. Public Storage’s dividend payout ratio is presently 108.99%.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.