Public Storage (NYSE:PSA) Stock Holdings Lifted by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its holdings in Public Storage (NYSE: PSA) by 25%, owning approximately 138,424 shares valued at about $41.4 million as of the latest reporting period.
• Analyst ratings for Public Storage vary, with Mizuho and Bank of America raising their price targets, while BMO Capital Markets downgraded the stock, highlighting a mixture of investment sentiment.
• The company reported an EPS of $4.28 for the last quarter, surpassing the consensus estimate of $4.23, and a revenue of $1.20 billion, showing a 2.4% increase year-over-year.

National Bank of Canada FI boosted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 25.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 138,424 shares of the real estate investment trust's stock after purchasing an additional 27,664 shares during the period. National Bank of Canada FI owned about 0.08% of Public Storage worth $41,429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in Public Storage during the fourth quarter valued at approximately $30,000. Spectrum Wealth Counsel LLC purchased a new position in Public Storage during the first quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Public Storage during the fourth quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new position in Public Storage during the first quarter valued at approximately $36,000. Finally, Parvin Asset Management LLC purchased a new position in Public Storage during the fourth quarter valued at approximately $38,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on PSA. Mizuho boosted their target price 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. Barclays decreased their target price on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research report on Friday. BMO Capital Markets downgraded shares of 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 research report on Friday, June 20th. Bank of America boosted their target price on shares of Public Storage from $368.00 to $380.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen downgraded shares of Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $335.43.

Public Storage Price Performance

NYSE:PSA opened at $281.88 on Friday. The stock has a market cap of $49.45 billion, a P/E ratio of 30.74, a PEG ratio of 4.11 and a beta of 0.86. Public Storage has a one year low of $256.60 and a one year high of $369.99. The company has a fifty day moving average price of $291.28 and a 200 day moving average price of $295.33. 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 (NYSE:PSA - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. The firm 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 business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.23 EPS. Analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

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.

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.