Algert Global LLC Invests $2.99 Million in Public Storage $PSA

Key Points

• Algert Global LLC has invested approximately $2.99 million in shares of Public Storage, acquiring 10,005 shares of the real estate investment trust.
• Public Storage reported quarterly earnings of $4.28 per share, surpassing analyst expectations of $4.23, with a net margin of 38.13% and revenue of $1.20 billion.
• Analysts have varying ratings on Public Storage, with two recommending a Strong Buy, while overall consensus indicates a Moderate Buy status and a target price of $335.43.

Algert Global LLC purchased a new position in Public Storage (NYSE:PSA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,005 shares of the real estate investment trust's stock, valued at approximately $2,994,000.

A number of other large investors also recently modified their holdings of the business. Ameriflex Group Inc. bought a new stake in Public Storage in the 4th quarter valued at about $30,000. Spectrum Wealth Counsel LLC bought a new stake in Public Storage in the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new stake in Public Storage in the 1st quarter valued at about $36,000. Parvin Asset Management LLC bought a new stake in Public Storage in the 4th quarter valued at about $38,000. Finally, Wayfinding Financial LLC bought a new stake in Public Storage in the 1st quarter valued at about $41,000. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PSA has been the topic of several recent research reports. 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 objective on the stock. BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Wall Street Zen cut shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Bank of America raised their target price on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Evercore ISI raised 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, August 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $335.43.

Public Storage Price Performance

Shares of PSA traded down $3.4860 during mid-day trading on Monday, hitting $290.2240. The company's stock had a trading volume of 169,364 shares, compared to its average volume of 796,517. The firm has a 50-day moving average price of $287.75 and a 200 day moving average price of $294.43. The stock has a market capitalization of $50.92 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 4.88 and a beta of 0.86. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, research analysts predict that Public Storage will post 16.7 EPS for the current fiscal 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.