Integrated Advisors Network LLC Purchases 114 Shares of Public Storage (NYSE:PSA)

Integrated Advisors Network LLC raised its position in shares of Public Storage (NYSE:PSA) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,026 shares of the real estate investment trust’s stock after acquiring an additional 114 shares during the period. Integrated Advisors Network LLC’s holdings in Public Storage were worth $1,101,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PSA. Pallas Capital Advisors LLC boosted its stake in shares of Public Storage by 58.1% in the third quarter. Pallas Capital Advisors LLC now owns 1,404 shares of the real estate investment trust’s stock valued at $475,000 after buying an additional 516 shares during the period. Smithbridge Asset Management Inc. DE raised its position in Public Storage by 55.3% during the third quarter. Smithbridge Asset Management Inc. DE now owns 3,333 shares of the real estate investment trust’s stock valued at $1,213,000 after purchasing an additional 1,187 shares in the last quarter. Baker Tilly Wealth Management LLC raised its position in Public Storage by 24.0% during the third quarter. Baker Tilly Wealth Management LLC now owns 1,432 shares of the real estate investment trust’s stock valued at $521,000 after purchasing an additional 277 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in Public Storage by 4.2% during the third quarter. Frank Rimerman Advisors LLC now owns 2,494 shares of the real estate investment trust’s stock valued at $907,000 after purchasing an additional 101 shares in the last quarter. Finally, Bristlecone Advisors LLC raised its position in Public Storage by 12.8% during the third quarter. Bristlecone Advisors LLC now owns 7,565 shares of the real estate investment trust’s stock valued at $2,753,000 after purchasing an additional 860 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of Public Storage from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley upped their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Truist Financial downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target for the company. in a report on Thursday, August 1st. Finally, Scotiabank upped their price target on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $341.43.

Public Storage Stock Performance

PSA stock opened at $335.49 on Thursday. Public Storage has a 1-year low of $233.18 and a 1-year high of $369.99. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72. The stock has a 50-day moving average price of $348.12 and a 200-day moving average price of $308.26. The firm has a market cap of $58.72 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 4.74 and a beta of 0.68.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). The business had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. Public Storage’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.28 earnings per share. As a group, equities research analysts expect that Public Storage will post 16.73 earnings per share for the current year.

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.