National Pension Service Has $135.50 Million Stock Holdings in Public Storage (NYSE:PSA)

Key Points

• The National Pension Service increased its holdings in Public Storage (NYSE:PSA) by 10.3% during the 1st quarter, owning 452,749 shares valued at approximately $135.5 million.
• Public Storage reported earnings per share (EPS) of $4.28 for the last quarter, beating analyst estimates and showing a year-over-year revenue increase of 2.4%.
• Hedge funds and institutional investors own about 78.79% of Public Storage's stock, indicating significant institutional interest in the company.

National Pension Service boosted its stake in Public Storage (NYSE:PSA - Free Report) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,749 shares of the real estate investment trust's stock after acquiring an additional 42,121 shares during the period. National Pension Service owned 0.26% of Public Storage worth $135,503,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. GKV Capital Management Co. Inc. acquired a new stake in Public Storage in the first quarter valued at $119,000. Russell Investments Group Ltd. raised its holdings in shares of Public Storage by 8.9% during the first quarter. Russell Investments Group Ltd. now owns 1,088,171 shares of the real estate investment trust's stock worth $325,194,000 after purchasing an additional 88,745 shares during the period. Resona Asset Management Co. Ltd. raised its holdings in shares of Public Storage by 7.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 93,977 shares of the real estate investment trust's stock worth $27,780,000 after purchasing an additional 6,327 shares during the period. Rathbones Group PLC raised its holdings in shares of Public Storage by 17.4% during the first quarter. Rathbones Group PLC now owns 56,094 shares of the real estate investment trust's stock worth $16,788,000 after purchasing an additional 8,297 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Public Storage by 2.0% during the first quarter. HighTower Advisors LLC now owns 362,282 shares of the real estate investment trust's stock worth $108,427,000 after purchasing an additional 7,107 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Up 0.8%

Shares of Public Storage stock traded up $2.24 during trading on Friday, hitting $283.13. The stock had a trading volume of 577,248 shares, compared to its average volume of 878,676. The stock has a 50 day simple moving average of $289.02 and a 200 day simple moving average of $294.88. The company has a market capitalization of $49.68 billion, a PE ratio of 30.88, a P/E/G ratio of 4.70 and a beta of 0.86. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly 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. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $4.23 earnings per share. On average, research analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of research reports. BNP Paribas Exane initiated coverage on shares of Public Storage in a report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. Royal Bank Of Canada lowered their price target on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. BMO Capital Markets lowered shares of Public Storage from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Mizuho upped their price target on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Finally, Barclays lowered their target price on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and a consensus target price of $331.93.

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.