LPL Financial LLC boosted its position in Public Storage (NYSE:PSA - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,294 shares of the real estate investment trust's stock after acquiring an additional 4,940 shares during the quarter. LPL Financial LLC owned 0.05% of Public Storage worth $27,922,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in PSA. Shum Financial Group Inc. lifted its holdings in shares of Public Storage by 1.7% in 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 buying an additional 35 shares during the period. Lido Advisors LLC increased 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. Integrated Advisors Network LLC boosted its stake in shares of 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 valued at $918,000 after acquiring an additional 41 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Public Storage by 3.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,313 shares of the real estate investment trust's stock worth $393,000 after purchasing an additional 41 shares during the last quarter. Finally, Winch Advisory Services LLC lifted its stake in shares of Public Storage by 39.8% during the first quarter. Winch Advisory Services LLC now owns 151 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 43 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on PSA. Wells Fargo & Company cut their price objective on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Royal Bank Of Canada reduced their price target on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Evercore ISI boosted their price objective on shares of Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a research report on Monday. BNP Paribas Exane began coverage on shares of Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price for the company. Finally, Scotiabank boosted their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, six have assigned 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 has a consensus rating of "Moderate Buy" and a consensus target price of $335.57.
Get Our Latest Report on PSA
Public Storage Stock Up 0.6%
Shares of PSA stock traded up $1.77 on Thursday, hitting $283.19. 262,595 shares of the stock were exchanged, compared to its average volume of 811,259. The business has a 50-day moving average of $292.23 and a 200 day moving average of $295.49. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. 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 firm has a market capitalization of $49.68 billion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 4.11 and a beta of 0.86.
Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. 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 firm earned $4.23 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts anticipate that Public Storage will post 16.7 EPS for the current year.
Public Storage Profile
(
Free Report)
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.
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