Public Storage (NYSE:PSA) Shares Purchased by S.A. Mason LLC

S.A. Mason LLC grew its position in shares of Public Storage (NYSE:PSA) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 825 shares of the real estate investment trust’s stock after acquiring an additional 30 shares during the period. S.A. Mason LLC’s holdings in Public Storage were worth $300,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PSA. Allspring Global Investments Holdings LLC grew its stake in Public Storage by 20.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 139,074 shares of the real estate investment trust’s stock worth $40,340,000 after buying an additional 23,531 shares during the period. Norden Group LLC acquired a new stake in Public Storage in the 1st quarter valued at $1,548,000. First Trust Direct Indexing L.P. raised its position in Public Storage by 25.6% in the first quarter. First Trust Direct Indexing L.P. now owns 3,058 shares of the real estate investment trust’s stock valued at $887,000 after purchasing an additional 624 shares during the period. Legacy Wealth Asset Management LLC lifted its stake in shares of Public Storage by 3.5% during the first quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 42 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of Public Storage by 3.3% in the first quarter. HB Wealth Management LLC now owns 1,451 shares of the real estate investment trust’s stock worth $421,000 after buying an additional 46 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSA. Truist Financial cut Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target for the company. in a report on Thursday, August 1st. Citigroup upped their price objective on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. Finally, Scotiabank lifted their price target on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $341.43.

Public Storage Price Performance

PSA opened at $335.49 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $348.12 and its 200 day moving average price is $308.26. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $369.99. The firm has a market cap of $58.72 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 4.74 and a beta of 0.68.

Public Storage (NYSE:PSA) last announced 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). 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 during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted $4.28 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts expect that Public Storage will post 16.73 earnings per share for the current year.

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.