Public Storage $PSA Shares Sold by Aew Capital Management L P

Key Points

• Aew Capital Management L P reduced its holdings in Public Storage by 1.7%, now owning 432,080 shares, which represents approximately 6.3% of its portfolio.
• Public Storage reported earnings of $4.28 EPS for the latest quarter, beating estimates by $0.05, with revenue reaching $1.20 billion.
• Analysts have a consensus rating of "Moderate Buy" for Public Storage, with a target price averaging $335.43.

Aew Capital Management L P lowered its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 432,080 shares of the real estate investment trust's stock after selling 7,320 shares during the quarter. Public Storage makes up 6.3% of Aew Capital Management L P's holdings, making the stock its 4th largest position. Aew Capital Management L P owned about 0.25% of Public Storage worth $129,317,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PSA. Ameriflex Group Inc. acquired a new stake in Public Storage in the 4th quarter valued at $30,000. Spectrum Wealth Counsel LLC purchased a new position in Public Storage during the first quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new position in Public Storage during the first quarter valued at $36,000. Parvin Asset Management LLC acquired a new stake in shares of Public Storage in the fourth quarter valued at about $38,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of Public Storage during the first quarter worth about $41,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on PSA shares. Bank of America increased their target price on Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price target on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Barclays reduced their price objective on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. Finally, BNP Paribas Exane initiated coverage on shares of Public Storage in a research note on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $335.43.

Public Storage Trading Down 0.3%

Shares of NYSE PSA traded down $0.79 during trading on Tuesday, hitting $289.05. 760,164 shares of the company were exchanged, compared to its average volume of 797,614. The company has a fifty day moving average price of $287.66 and a 200-day moving average price of $294.34. 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 has a market capitalization of $50.71 billion, a PE ratio of 31.52, a P/E/G ratio of 4.88 and a beta of 0.86. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the business earned $4.23 earnings per share. Public Storage'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. As a group, equities research analysts expect that Public Storage will post 16.7 EPS for the current year.

About Public Storage

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.