Candriam S.C.A. Sells 1,994 Shares of Public Storage $PSA

Key Points

• Candriam S.C.A. reduced its stake in Public Storage (NYSE:PSA) by 11.6%, selling 1,994 shares and now holding a total of 15,244 shares valued at approximately $4.56 million.
• Despite the reduction, other institutional investors, like Shum Financial Group Inc. and Lido Advisors LLC, have increased their positions in Public Storage, indicating varied investor sentiment towards the company.
• Public Storage's most recent earnings report showed an earning per share of $4.28, beating estimates, and the company has set a FY 2025 guidance between 16.450-17.00 EPS.

Candriam S.C.A. trimmed its position in Public Storage (NYSE:PSA - Free Report) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,244 shares of the real estate investment trust's stock after selling 1,994 shares during the quarter. Candriam S.C.A.'s holdings in Public Storage were worth $4,562,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PSA. Shum Financial Group Inc. lifted its holdings in shares of Public Storage by 1.7% during the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock valued at $625,000 after purchasing an additional 35 shares in the last quarter. Lido Advisors LLC lifted its stake in Public Storage by 0.9% in the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust's stock valued at $1,287,000 after acquiring an additional 39 shares in the last quarter. Meeder Advisory Services Inc. lifted its stake in Public Storage by 1.1% in 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. lifted its stake in 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 valued at $388,000 after acquiring an additional 39 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted 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 valued at $918,000 after acquiring an additional 41 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of PSA traded down $0.79 during trading hours on Tuesday, hitting $289.05. 760,164 shares of the company were exchanged, compared to its average volume of 797,614. The company has a market cap of $50.71 billion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 4.88 and a beta of 0.86. Public Storage has a fifty-two week low of $256.60 and a fifty-two week 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 firm's fifty day moving average is $287.66 and its 200 day moving average is $294.34.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.05. The business had revenue of $1.20 billion for 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%.Public Storage's revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PSA. BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and cut their target price for the company from $340.00 to $325.00 in a research note on Friday, June 20th. BNP Paribas Exane began coverage on Public Storage in a research note on Tuesday, June 24th. They issued an "outperform" rating and a $331.00 target price on the stock. Evercore ISI boosted their target price on Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a research note on Monday, August 4th. Wall Street Zen cut Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Scotiabank upped their price objective 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. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.