607 Shares in Public Storage (NYSE:PSA) Acquired by Childress Capital Advisors LLC

Childress Capital Advisors LLC bought a new position in Public Storage (NYSE:PSA) in the 3rd quarter, Holdings Channel reports. The fund bought 607 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSA. OFI Invest Asset Management purchased a new stake in Public Storage during the 2nd quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in Public Storage during the 2nd quarter valued at approximately $36,000. Crewe Advisors LLC purchased a new stake in Public Storage during the 1st quarter valued at approximately $39,000. EdgeRock Capital LLC purchased a new stake in Public Storage during the 2nd quarter valued at approximately $39,000. Finally, LRI Investments LLC purchased a new stake in Public Storage during the 1st quarter valued at approximately $40,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSA has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Public Storage from $374.00 to $381.00 and gave the company an “overweight” rating in a report on Monday. Scotiabank increased their target price on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a research report on Thursday, August 1st. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI lowered their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $341.43.

Public Storage Stock Up 1.3 %

Shares of PSA opened at $335.49 on Thursday. The company has a market cap of $58.72 billion, a PE ratio of 31.44, a P/E/G ratio of 4.74 and a beta of 0.68. The business has a fifty day moving average of $348.12 and a 200 day moving average of $308.26. Public Storage has a 52-week low of $233.18 and a 52-week high of $369.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last issued 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 company had revenue of $921.70 million during 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%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.28 earnings per share. On average, sell-side analysts expect that Public Storage will post 16.73 EPS for the current year.

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.