2,122 Shares in Public Storage $PSA Purchased by Nations Financial Group Inc. IA ADV

Key Points

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Nations Financial Group Inc. IA ADV bought a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,122 shares of the real estate investment trust's stock, valued at approximately $635,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of Public Storage by 13.3% during the 1st quarter. American Century Companies Inc. now owns 750,786 shares of the real estate investment trust's stock valued at $224,703,000 after buying an additional 88,038 shares during the last quarter. Aberdeen Group plc boosted its stake in shares of Public Storage by 32.8% during the 1st quarter. Aberdeen Group plc now owns 333,814 shares of the real estate investment trust's stock valued at $99,737,000 after buying an additional 82,381 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Public Storage by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,134,493 shares of the real estate investment trust's stock worth $638,805,000 after purchasing an additional 12,204 shares during the last quarter. Horizon Investments LLC lifted its stake in Public Storage by 8.7% during the first quarter. Horizon Investments LLC now owns 5,249 shares of the real estate investment trust's stock worth $1,571,000 after purchasing an additional 422 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC lifted its stake in Public Storage by 14.5% during the first quarter. Azimuth Capital Investment Management LLC now owns 11,571 shares of the real estate investment trust's stock worth $3,463,000 after purchasing an additional 1,462 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BNP Paribas Exane assumed coverage on Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th. Barclays reduced their price objective on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Mizuho raised their price objective on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Public Storage currently has an average rating of "Moderate Buy" and an average price target of $335.43.

Public Storage Stock Performance

Shares of PSA traded up $6.72 during trading hours on Friday, reaching $293.48. 460,134 shares of the company's stock traded hands, compared to its average volume of 813,849. The firm has a market capitalization of $51.49 billion, a price-to-earnings ratio of 32.00, a P/E/G ratio of 4.76 and a beta of 0.86. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The business's fifty day simple moving average is $287.75 and its two-hundred day simple moving average is $294.54.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. The company 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%.The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Company 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.