1834 Investment Advisors Co. Has $3.60 Million Position in Public Storage (NYSE:PSA)

Key Points

• 1834 Investment Advisors Co. reduced its stake in Public Storage by 10.4% to approximately $3.60 million during the first quarter.
• Public Storage's recent quarterly earnings report showed an EPS of $4.28, exceeding estimates of $4.23, with revenues meeting expectations at $1.20 billion.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for PSA, with target prices ranging from $309.00 to $380.00, reflecting optimism for the stock's performance.

1834 Investment Advisors Co. lowered its holdings in Public Storage (NYSE:PSA - Free Report) by 10.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,012 shares of the real estate investment trust's stock after selling 1,391 shares during the quarter. 1834 Investment Advisors Co.'s holdings in Public Storage were worth $3,595,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PSA. Northern Trust Corp raised its holdings in shares of Public Storage by 43.4% in the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock worth $741,592,000 after buying an additional 749,913 shares in the last quarter. Cohen & Steers Inc. boosted its stake in Public Storage by 12.3% in the 4th quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock valued at $1,626,731,000 after buying an additional 592,944 shares in the last quarter. GAMMA Investing LLC grew its position in Public Storage by 34,827.1% in the first quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust's stock valued at $157,114,000 after acquiring an additional 523,452 shares during the period. Deutsche Bank AG raised its stake in Public Storage by 44.6% during the fourth quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock worth $421,538,000 after acquiring an additional 433,918 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Public Storage during the fourth quarter worth $99,157,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Down 0.1%

PSA stock opened at $281.48 on Thursday. The company has a market cap of $49.38 billion, a P/E ratio of 30.70, a PEG ratio of 4.11 and a beta of 0.86. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The business has a fifty day moving average of $292.23 and a 200-day moving average of $295.49.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%. The company's revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $4.23 earnings per share. As a group, equities research analysts expect that Public Storage will post 16.7 EPS for the current year.

Wall Street Analysts Forecast Growth

PSA has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. BNP Paribas Exane initiated coverage on shares of Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price target on the stock. BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Evercore ISI lifted their target price on shares of Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a research note on Monday. Finally, Bank of America boosted their target price on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $335.57.

About Public Storage

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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