Rathbones Group PLC Has $16.79 Million Stock Holdings in Public Storage (NYSE:PSA)

Key Points

• Rathbones Group PLC increased its stake in Public Storage (NYSE: PSA) by 17.4%, acquiring an additional 8,297 shares, bringing its total holdings to 56,094 shares valued at approximately $16.79 million.
• Public Storage reported a quarterly earnings per share (EPS) of $4.28, exceeding analysts' expectations, with revenue remaining stable at $1.20 billion.
• Institutional investors currently own 78.79% of Public Storage's stock, reflecting strong support from major financial entities.

Rathbones Group PLC boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,094 shares of the real estate investment trust's stock after acquiring an additional 8,297 shares during the quarter. Rathbones Group PLC's holdings in Public Storage were worth $16,788,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PSA. Nuveen LLC bought a new stake in Public Storage during the first quarter worth about $271,196,000. Northern Trust Corp grew its stake in Public Storage by 43.4% during 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 buying an additional 749,913 shares during the last quarter. GAMMA Investing LLC grew its stake in Public Storage by 34,827.1% during the first quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust's stock worth $157,114,000 after buying an additional 523,452 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Public Storage by 44.6% during the fourth quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock valued at $421,538,000 after purchasing an additional 433,918 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $99,157,000. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Down 0.7%

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

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 earnings per share for the quarter, beating 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 business 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 business posted $4.23 earnings per share. Public Storage's revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Public Storage from $308.00 to $309.00 and gave the company an "in-line" rating in a research note on Monday, August 4th. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Barclays decreased 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. Wall Street Zen cut shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Bank of America increased their price target on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Public Storage currently has a consensus rating of "Moderate Buy" and an average target price of $331.93.

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.