Bbjs Financial Advisors LLC Has $238,000 Stake in Public Storage (NYSE:PSA)

Bbjs Financial Advisors LLC reduced its position in Public Storage (NYSE:PSA - Free Report) by 76.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 829 shares of the real estate investment trust's stock after selling 2,761 shares during the period. Bbjs Financial Advisors LLC's holdings in Public Storage were worth $238,000 at the end of the most recent reporting period.

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Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSA. Bangor Savings Bank grew its holdings in shares of Public Storage by 2.0% in the 2nd quarter. Bangor Savings Bank now owns 5,466 shares of the real estate investment trust's stock valued at $1,572,000 after buying an additional 107 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Public Storage by 22.3% during the second quarter. Sequoia Financial Advisors LLC now owns 5,932 shares of the real estate investment trust's stock worth $1,706,000 after acquiring an additional 1,083 shares in the last quarter. Werlinich Asset Management LLC grew its stake in Public Storage by 1.2% in the second quarter. Werlinich Asset Management LLC now owns 5,995 shares of the real estate investment trust's stock valued at $1,718,000 after acquiring an additional 70 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in shares of Public Storage by 13.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 4,251 shares of the real estate investment trust's stock worth $1,223,000 after acquiring an additional 494 shares in the last quarter. Finally, Czech National Bank raised its position in shares of Public Storage by 8.2% during the second quarter. Czech National Bank now owns 30,137 shares of the real estate investment trust's stock worth $8,669,000 after purchasing an additional 2,293 shares during the period. 78.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PSA shares. Barclays reduced their target price on shares of Public Storage from $330.00 to $327.00 and set an "overweight" rating for the company in a research note on Monday, May 20th. Scotiabank dropped their target price on Public Storage from $314.00 to $308.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company boosted their target price on Public Storage from $310.00 to $320.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Truist Financial downgraded shares of Public Storage from a "buy" rating to a "hold" rating and set a $306.00 price objective on the stock. in a report on Thursday, August 1st. Finally, Evercore ISI raised 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 report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of "Hold" and a consensus target price of $309.92.

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View Our Latest Analysis on PSA

Public Storage Price Performance

Shares of PSA stock traded up $2.11 during trading hours on Tuesday, reaching $316.45. The company's stock had a trading volume of 469,097 shares, compared to its average volume of 769,380. The firm's 50 day simple moving average is $293.93 and its 200-day simple moving average is $283.60. The company has a market capitalization of $55.39 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 5.23 and a beta of 0.65. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $318.50.

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Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company had revenue of $921.70 million for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $4.28 earnings per share. Public Storage's revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that Public Storage will post 16.76 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Friday, September 13th. Public Storage's payout ratio is 108.99%.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 400 shares of the firm's stock in a transaction on Monday, June 10th. The stock was 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.00% of the company's stock.

Public Storage Company 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.

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