Van Lanschot Kempen Investment Management N.V. Reduces Stock Position in Public Storage $PSA

Key Points

• Van Lanschot Kempen Investment Management N.V. reduced its stake in Public Storage by 19.2%, selling 7,805 shares, bringing its total holdings to 32,896 shares valued at approximately $9.85 million.
• Public Storage shares are currently trading at $286.98, with a market capitalization of $50.35 billion and a 12-month performance range from a low of $256.60 to a high of $369.99.
• Research firms have varied outlooks on Public Storage, with target prices ranging from $309 to $380, reflecting a consensus rating of "Moderate Buy" and an average target price of $335.43.

Van Lanschot Kempen Investment Management N.V. lowered its stake in shares of Public Storage (NYSE:PSA - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,896 shares of the real estate investment trust's stock after selling 7,805 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in Public Storage were worth $9,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PSA. Walleye Capital LLC raised its position in Public Storage by 260.5% in the 4th quarter. Walleye Capital LLC now owns 2,592 shares of the real estate investment trust's stock worth $776,000 after purchasing an additional 1,873 shares during the period. Marshall Wace LLP raised its position in Public Storage by 300.2% in the 4th quarter. Marshall Wace LLP now owns 39,936 shares of the real estate investment trust's stock worth $11,958,000 after purchasing an additional 29,958 shares during the period. First Trust Advisors LP raised its position in Public Storage by 15.6% in the 4th quarter. First Trust Advisors LP now owns 209,327 shares of the real estate investment trust's stock worth $62,681,000 after purchasing an additional 28,241 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in Public Storage by 21.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,603 shares of the real estate investment trust's stock worth $1,977,000 after purchasing an additional 1,146 shares during the period. Finally, Ossiam raised its position in Public Storage by 12.1% in the 4th quarter. Ossiam now owns 4,149 shares of the real estate investment trust's stock worth $1,242,000 after purchasing an additional 448 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Down 1.1%

PSA traded down $3.3150 during midday trading on Monday, reaching $290.3950. The company's stock had a trading volume of 79,602 shares, compared to its average volume of 795,996. The firm has a market capitalization of $50.95 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 4.88 and a beta of 0.86. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 1 year low of $256.60 and a 1 year high of $369.99. The stock's 50-day moving average is $287.75 and its 200-day moving average is $294.43.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results 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. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business's revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, research analysts expect that Public Storage will post 16.7 EPS for the current year.

Analysts Set New Price Targets

PSA has been the topic of a number of analyst reports. Scotiabank lifted their target price 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. Wells Fargo & Company decreased their price objective on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Mizuho boosted their price objective on shares of Public Storage from $287.00 to $309.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Barclays reduced 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 report on Friday, August 8th. Finally, Evercore ISI boosted 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 report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of "Moderate Buy" and a consensus target price of $335.43.

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.