ASR Vermogensbeheer N.V. Invests $1.32 Million in Public Storage (NYSE:PSA)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Public Storage (NYSE:PSA), purchasing 4,415 shares valued at approximately $1.32 million in the first quarter.
• Institutional investors currently hold 78.79% of Public Storage's shares, reflecting significant interest from hedge funds and investment groups.
• Analysts have varied ratings on Public Storage, with a consensus price target of $335.43 and an average rating of "Moderate Buy".

ASR Vermogensbeheer N.V. purchased a new position in Public Storage (NYSE:PSA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,415 shares of the real estate investment trust's stock, valued at approximately $1,321,000.

A number of other hedge funds also recently bought and sold shares of the company. Shum Financial Group Inc. boosted its stake in Public Storage by 1.7% during the first quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock valued at $625,000 after buying an additional 35 shares during the last quarter. Lido Advisors LLC increased its holdings in Public Storage by 0.9% during the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock worth $1,287,000 after purchasing an additional 39 shares during the period. Meeder Advisory Services Inc. boosted its position in Public Storage by 1.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust's stock valued at $1,072,000 after acquiring an additional 39 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Public Storage by 3.1% in the 1st quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust's stock worth $388,000 after purchasing an additional 39 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its stake in Public Storage by 1.4% in the 4th quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust's stock worth $918,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Public Storage stock traded down $2.01 on Friday, reaching $281.88. 434,986 shares of the stock were exchanged, compared to its average volume of 914,860. The stock has a market cap of $49.46 billion, a PE ratio of 30.74, a PEG ratio of 4.11 and a beta of 0.86. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The firm has a fifty day moving average price of $291.28 and a two-hundred day moving average price of $295.36.

Public Storage (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share 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 net margin of 38.13% and a return on equity of 34.06%. The business's revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.23 EPS. Sell-side analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays cut their price target on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday. Mizuho boosted their target price on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. BNP Paribas Exane initiated coverage on Public Storage in a report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 price objective on the stock. Scotiabank upped their price target on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Finally, Wall Street Zen lowered Public Storage from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $335.43.

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.