American Century Companies Inc. Buys 88,038 Shares of Public Storage $PSA

Key Points

• American Century Companies Inc. increased its holdings in Public Storage by 13.3% after purchasing 88,038 shares, now owning a total of 750,786 shares valued at approximately $224.7 million.
• Public Storage has received mixed ratings from analysts, with Bank of America raising the target price to $380 and others slashing target prices, resulting in an overall average rating of "Moderate Buy."
• The firm reported $4.28 EPS for its last quarter, beating estimates, with a net margin of 38.13% and a revenue increase of 2.4% year-over-year.

American Century Companies Inc. raised its position in shares of Public Storage (NYSE:PSA - Free Report) by 13.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 750,786 shares of the real estate investment trust's stock after purchasing an additional 88,038 shares during the quarter. American Century Companies Inc. owned approximately 0.43% of Public Storage worth $224,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in shares of Public Storage during the 4th quarter worth approximately $30,000. Spectrum Wealth Counsel LLC bought a new position in shares of Public Storage during the 1st quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Public Storage during the 4th quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new position in shares of Public Storage during the 1st quarter worth approximately $36,000. Finally, Parvin Asset Management LLC bought a new position in shares of Public Storage during the 4th quarter worth approximately $38,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Up 0.0%

Shares of PSA traded up $0.0350 during trading hours on Wednesday, reaching $287.3850. The stock had a trading volume of 364,665 shares, compared to its average volume of 802,483. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The firm has a 50-day simple moving average of $288.24 and a 200 day simple moving average of $294.68. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $50.42 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 4.66 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the business earned $4.23 EPS. Public Storage's quarterly revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Equities research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PSA shares. Mizuho increased their price target on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Scotiabank increased their price target on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Wells Fargo & Company cut their price target on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Bank of America increased their price target on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Barclays cut their target price on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $335.43.

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.