Stephenson & Company Inc. Buys Shares of 577 Public Storage (NYSE:PSA)

Stephenson & Company Inc. bought a new stake in shares of Public Storage (NYSE:PSA) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 577 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Other large investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Public Storage during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Public Storage in the second quarter worth $36,000. Crewe Advisors LLC purchased a new position in shares of Public Storage in the first quarter worth $39,000. EdgeRock Capital LLC purchased a new position in shares of Public Storage in the second quarter worth $39,000. Finally, LRI Investments LLC purchased a new position in shares of Public Storage in the first quarter worth $40,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research note on Monday, August 5th. Scotiabank lifted their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 22nd. Evercore ISI decreased their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Finally, Citigroup lifted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $341.43.

Public Storage Stock Performance

Shares of PSA stock opened at $335.49 on Thursday. Public Storage has a 12 month low of $233.18 and a 12 month high of $369.99. The stock 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. 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 company’s fifty day moving average price is $348.12 and its 200-day moving average price is $308.26.

Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 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 net margin of 44.88% and a return on equity of 36.55%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $4.28 EPS. On average, equities analysts expect that Public Storage will post 16.73 EPS for the current fiscal 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.