HighTower Advisors LLC Has $109.89 Million Holdings in Public Storage $PSA

Key Points

• HighTower Advisors reduced its Public Storage stake by 2.7% in the second quarter, selling 9,734 shares and retaining 345,237 shares worth approximately $109.9 million. Institutional investors and hedge funds collectively own 78.79% of PSA.
• Analysts maintain a consensus “Hold” rating with an average price target of $327, while PSA recently traded at $301.83. The stock has a 52-week range of $256.54 to $335.55.
• Public Storage reported quarterly EPS of $4.17, exceeding estimates of $2.53, on revenue of $1.23 billion, while declaring a $3.00 quarterly dividend, equivalent to a 4.0% annualized yield.

HighTower Advisors LLC trimmed its stake in shares of Public Storage (NYSE:PSA - Free Report) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 345,237 shares of the real estate investment trust's stock after selling 9,734 shares during the period. HighTower Advisors LLC owned about 0.20% of Public Storage worth $109,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Groupe la Francaise acquired a new position in Public Storage in the 2nd quarter worth $4,748,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Public Storage in the 2nd quarter valued at about $72,529,000. California State Teachers Retirement System lifted its holdings in shares of Public Storage by 30,482.4% in the second quarter. California State Teachers Retirement System now owns 77,538,088 shares of the real estate investment trust's stock valued at $24,681,149,000 after purchasing an additional 77,284,550 shares in the last quarter. Greenland Capital Management LP lifted its holdings in shares of Public Storage by 300.0% in the second quarter. Greenland Capital Management LP now owns 6,600 shares of the real estate investment trust's stock valued at $2,101,000 after purchasing an additional 4,950 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Public Storage during the second quarter worth about $137,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the firm's 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PSA has been the subject of a number of research reports. Mizuho increased their price objective on Public Storage from $316.00 to $319.00 and gave the stock a "neutral" rating in a report on Wednesday, September 2nd. Barclays upped their price target on Public Storage from $349.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 19th. Wells Fargo & Company set a $311.00 price target on shares of Public Storage in a research note on Tuesday, September 1st. UBS Group lifted their price objective on shares of Public Storage from $314.00 to $326.00 and gave the company a "neutral" rating in a report on Friday, July 10th. Finally, Evercore set a $316.00 price objective on shares of Public Storage in a research report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $327.00.

Public Storage Price Performance

Shares of NYSE PSA opened at $301.83 on Monday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50-day moving average of $320.62 and a 200-day moving average of $307.86. The stock has a market capitalization of $53.01 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 4.11 and a beta of 0.95. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company posted $4.28 earnings per share. Public Storage's revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts predict that Public Storage will post 16.93 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend 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.

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