Public Storage $PSA Stock Position Lifted by Northern Trust Corp

Key Points

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Northern Trust Corp raised its holdings in Public Storage (NYSE:PSA - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,546,478 shares of the real estate investment trust's stock after buying an additional 69,882 shares during the quarter. Northern Trust Corp owned approximately 1.45% of Public Storage worth $762,135,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Shum Financial Group Inc. grew its holdings in 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 grew its holdings 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 buying an additional 39 shares during the period. Meeder Asset Management Inc. grew its holdings 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 buying an additional 39 shares during the period. Meeder Advisory Services Inc. grew its holdings 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 buying an additional 39 shares during the period. Finally, Integrated Advisors Network LLC grew its holdings 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 buying an additional 41 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Up 2.3%

Public Storage stock traded up $6.72 during midday trading on Friday, hitting $293.48. 460,134 shares of the company were exchanged, compared to its average volume of 803,135. The company's fifty day moving average price is $287.75 and its 200-day moving average price is $294.43. The company has a market cap of $51.49 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 4.88 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 fifty-two week low of $256.60 and a fifty-two week high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted $4.23 EPS. Public Storage's quarterly revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, research analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of research reports. Bank of America boosted their target price on Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. BMO Capital Markets cut Public Storage from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $340.00 to $325.00 in a report on Friday, June 20th. Royal Bank Of Canada decreased their target price on Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. BNP Paribas Exane initiated coverage on Public Storage in a report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $335.43.

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.