Vestmark Advisory Solutions Inc. Acquires 1,130 Shares of Public Storage $PSA

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Public Storage by 53.2% in Q1, bringing their total shares to 3,256, valued at approximately $974,000.
• Public Storage has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $335.43, amidst various downgrades and rating adjustments by different firms.
• In its latest earnings report, Public Storage reported $4.28 earnings per share, beating analyst expectations, and experienced a year-over-year revenue increase of 2.4% to $1.20 billion.

Vestmark Advisory Solutions Inc. lifted its position in Public Storage (NYSE:PSA - Free Report) by 53.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,256 shares of the real estate investment trust's stock after purchasing an additional 1,130 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Public Storage were worth $974,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PSA. Ameriflex Group Inc. bought a new stake in shares of Public Storage in the 4th quarter worth about $30,000. Spectrum Wealth Counsel LLC bought a new stake in Public Storage during the 1st quarter worth about $30,000. Opal Wealth Advisors LLC bought a new stake in Public Storage during the 1st quarter worth about $36,000. Parvin Asset Management LLC bought a new stake in Public Storage during the 4th quarter worth about $38,000. Finally, Wayfinding Financial LLC bought a new stake in Public Storage during the 1st quarter worth about $41,000. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Up 3.2%

Shares of NYSE:PSA traded up $9.2460 during mid-day trading on Friday, reaching $296.0060. The stock had a trading volume of 127,866 shares, compared to its average volume of 798,333. The firm has a market cap of $51.93 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 4.76 and a beta of 0.86. The firm has a 50 day simple moving average of $287.78 and a two-hundred day simple moving average of $294.56. 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 twelve month low of $256.60 and a twelve month high of $369.99.

Public Storage (NYSE:PSA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.23 by $0.05. The business 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%. Public Storage's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, research analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho increased their price objective on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Evercore ISI increased their price objective on shares of Public Storage from $308.00 to $309.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. Scotiabank upped their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. BMO Capital Markets downgraded shares of Public Storage from an "outperform" rating to a "market perform" rating and cut their target price for the company from $340.00 to $325.00 in a research report on Friday, June 20th. Finally, Bank of America upped their target price on shares of Public Storage from $368.00 to $380.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Two research 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 company's stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and a consensus price target 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.