Public Storage $PSA Shares Acquired by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH increased its holdings in Public Storage by 14.2% in the first quarter, owning 26,600 shares valued at approximately $7.83 million as per the latest SEC filing.
• Public Storage reported an EPS of $4.28 for its most recent quarter, exceeding analysts' estimates of $4.23, alongside a revenue of $1.20 billion.
• Several analysts have revised their price targets for Public Storage, with Bank of America raising its target from $368 to $380 and maintaining a "buy" rating.

Erste Asset Management GmbH grew its holdings in Public Storage (NYSE:PSA - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,600 shares of the real estate investment trust's stock after acquiring an additional 3,300 shares during the period. Erste Asset Management GmbH's holdings in Public Storage were worth $7,830,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PSA. Nuveen LLC acquired a new position in shares of Public Storage in the first quarter worth $271,196,000. Northern Trust Corp grew its stake in shares of Public Storage by 43.4% in the fourth quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock worth $741,592,000 after acquiring an additional 749,913 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Public Storage by 34,827.1% in the first quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust's stock worth $157,114,000 after acquiring an additional 523,452 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Public Storage by 44.6% in the fourth quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock worth $421,538,000 after acquiring an additional 433,918 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Public Storage in the fourth quarter worth $99,157,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $287.0050 on Thursday. The company has a 50-day simple moving average of $287.98 and a 200-day simple moving average of $294.63. Public Storage has a one year low of $256.60 and a one year 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 stock has a market capitalization of $50.36 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 4.77 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last announced its 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. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the company earned $4.23 earnings per share. The business's revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, analysts predict that Public Storage will post 16.7 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America lifted their price objective 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. 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 research report on Friday, August 1st. Evercore ISI lifted their price objective on shares of Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a research report on Monday, August 4th. Mizuho lifted their price objective 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, Scotiabank lifted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $335.43.

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.