Public Storage $PSA Stock Position Cut by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in Public Storage (NYSE:PSA) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 354,660 shares of the real estate investment trust’s stock after selling 14,543 shares during the quarter. HighTower Advisors LLC’s holdings in Public Storage were worth $92,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSA. Empowered Funds LLC grew its position in Public Storage by 13.3% in the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after buying an additional 373 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Public Storage in the 2nd quarter valued at about $929,000. Nebula Research & Development LLC bought a new position in Public Storage in the 2nd quarter valued at about $1,113,000. Treasurer of the State of North Carolina boosted its position in shares of Public Storage by 1.9% during the 2nd 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 boosted its position in shares of Public Storage by 219.8% during the 2nd 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 own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $297.78 on Wednesday. Public Storage has a twelve month low of $256.54 and a twelve month high of $313.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a 50-day moving average of $293.18 and a 200-day moving average of $284.40. The firm has a market cap of $52.28 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 4.04 and a beta of 1.00.

Public Storage (NYSE:PSA) last posted its quarterly earnings data 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. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm earned $4.12 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Analysts forecast that Public Storage will post 16.89 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, June 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 123.84%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PSA shares. Wolfe Research lowered shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Scotiabank raised their price objective on shares of Public Storage from $321.00 to $340.00 in a research report on Monday, May 11th. Truist Financial raised their price objective on shares of Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. William Blair set a $305.00 price objective on shares of Public Storage in a research report on Monday, March 16th. Finally, Jefferies Financial Group raised their price objective on shares of Public Storage from $330.00 to $350.00 in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $312.94.

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.