HighTower Advisors LLC Sells 9,734 Shares of Public Storage $PSA

HighTower Advisors LLC lessened its holdings in shares of Public Storage (NYSE:PSA) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 345,237 shares of the real estate investment trust’s stock after selling 9,734 shares during the quarter. HighTower Advisors LLC’s holdings in Public Storage were worth $109,893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bayban bought a new position in shares of Public Storage during the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new stake in Public Storage in the 3rd quarter valued at $27,000. Bruce G. Allen Investments LLC raised its stake in Public Storage by 89.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 43 shares during the period. Continuum Advisory LLC acquired a new stake in Public Storage during the 2nd quarter valued at $29,000. Finally, Wealth Watch Advisors INC acquired a new stake in Public Storage during the 3rd quarter valued at $34,000. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of several research reports. Weiss Ratings upgraded shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Raymond James Financial initiated coverage on shares of Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating for the company. Royal Bank Of Canada lifted their target price on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Finally, Barclays increased their price target on shares of Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a report on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and an average price target of $327.00.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.10% of the stock is currently owned by company insiders.

Public Storage Stock Performance

NYSE PSA opened at $301.83 on Monday. The firm has a 50-day moving average price of $320.62 and a two-hundred day moving average price of $307.86. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a market capitalization of $53.01 billion, a P/E ratio of 28.80, a P/E/G ratio of 4.11 and a beta of 0.95. 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 (NYSE:PSA) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping the consensus estimate of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the firm earned $4.28 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts anticipate that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. Public Storage’s dividend payout ratio is currently 114.50%.

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.