Public Storage $PSA Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Public Storage by 32.4%, owning 4,462 shares valued at approximately $1.34 million after selling 2,141 shares.
• Public Storage reported quarterly earnings of $4.28 per share, surpassing the consensus estimate of $4.23, with a year-over-year revenue increase of 2.4% to $1.20 billion.
• Analysts have varying ratings for Public Storage, with price targets ranging from $320.00 to $331.00, indicating a consensus price target of $335.43.

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Public Storage (NYSE:PSA - Free Report) by 32.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,462 shares of the real estate investment trust's stock after selling 2,141 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Public Storage were worth $1,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Shum Financial Group Inc. lifted its position in shares of Public Storage by 1.7% in 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 acquiring an additional 35 shares in the last quarter. Lido Advisors LLC lifted its position in Public Storage by 0.9% during the fourth quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock worth $1,287,000 after buying an additional 39 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Public Storage by 3.1% during the first quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust's stock worth $388,000 after buying an additional 39 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in Public Storage by 1.1% during the first quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust's stock worth $1,072,000 after buying an additional 39 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted its position in Public Storage by 1.4% during the fourth quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust's stock worth $918,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 1.2%

Shares of PSA stock traded down $3.60 on Monday, hitting $290.11. The stock had a trading volume of 371,152 shares, compared to its average volume of 797,846. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $50.90 billion, a P/E ratio of 31.64, a P/E/G ratio of 4.88 and a beta of 0.86. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The company's 50 day moving average price is $287.75 and its 200-day moving average price is $294.43.

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

Wall Street Analyst Weigh In

A number of research firms have commented on PSA. BNP Paribas Exane began coverage on Public Storage in a research report on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price on the stock. Mizuho lifted their target price on Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Evercore ISI lifted their target price on Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a research report on Monday, August 4th. BMO Capital Markets downgraded Public Storage from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $340.00 to $325.00 in a research report on Friday, June 20th. Finally, Barclays reduced their target price on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Two research 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.