Public Sector Pension Investment Board Has $12.62 Million Position in Public Storage (NYSE:PSA)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Public Storage (NYSE:PSA) by 3.1% during the first quarter, now owning 42,151 shares valued at approximately $12.6 million.
• In its latest quarterly earnings, Public Storage reported an EPS of $4.28, surpassing estimates, with a revenue of $1.20 billion, reflecting a 2.4% year-over-year increase.
• Currently, Public Storage has a market cap of $49.20 billion and is on the radar of multiple analysts, with a consensus rating of "Moderate Buy" and a target price of $335.43.

Public Sector Pension Investment Board boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,151 shares of the real estate investment trust's stock after buying an additional 1,278 shares during the quarter. Public Sector Pension Investment Board's holdings in Public Storage were worth $12,615,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Public Storage by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,735,896 shares of the real estate investment trust's stock worth $6,206,046,000 after purchasing an additional 143,575 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Public Storage by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,836,477 shares of the real estate investment trust's stock worth $848,425,000 after purchasing an additional 34,718 shares during the period. Northern Trust Corp boosted its stake in Public Storage by 43.4% in the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock worth $741,592,000 after purchasing an additional 749,913 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Public Storage by 10.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,702,522 shares of the real estate investment trust's stock worth $509,803,000 after purchasing an additional 158,665 shares during the period. Finally, Deutsche Bank AG boosted its stake in Public Storage by 9.8% in the 1st quarter. Deutsche Bank AG now owns 1,546,240 shares of the real estate investment trust's stock worth $462,774,000 after purchasing an additional 138,486 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PSA shares. Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Barclays dropped their price target 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. Argus restated a "hold" rating and set a $283.00 price target on shares of Public Storage in a research note on Thursday. Royal Bank Of Canada decreased their price objective on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. Finally, Mizuho upped their price objective on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $331.93.

Public Storage Price Performance

Shares of NYSE:PSA traded down $2.11 on Thursday, hitting $281.07. The stock had a trading volume of 558,745 shares, compared to its average volume of 902,136. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The firm's 50 day moving average price is $289.42 and its 200-day moving average price is $294.97. The company has a market capitalization of $49.31 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 4.70 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. The firm had revenue of $1.20 billion during 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 revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $4.23 earnings per share. On average, equities research 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.