Baron Silver Stevens Financial Advisors LLC Acquires New Shares in Public Storage (NYSE:PSA)

Baron Silver Stevens Financial Advisors LLC bought a new position in shares of Public Storage (NYSE:PSA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 768 shares of the real estate investment trust’s stock, valued at approximately $279,000.

Several other institutional investors have also recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in Public Storage during the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new position in shares of Public Storage in the 2nd quarter valued at $36,000. Crewe Advisors LLC acquired a new stake in shares of Public Storage during the 1st quarter valued at $39,000. EdgeRock Capital LLC acquired a new stake in shares of Public Storage during the 2nd quarter valued at $39,000. Finally, LRI Investments LLC bought a new stake in Public Storage during the 1st quarter worth $40,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA opened at $329.06 on Friday. 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 firm’s 50-day moving average price is $348.04 and its 200-day moving average price is $308.41. The firm has a market capitalization of $57.59 billion, a P/E ratio of 34.17, a P/E/G ratio of 4.73 and a beta of 0.68. Public Storage has a 1-year low of $233.18 and a 1-year high of $369.99.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($1.54). The firm 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 33.66% and a net margin of 40.54%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.28 EPS. Equities research analysts anticipate that Public Storage will post 16.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada started coverage on Public Storage in a research note on Tuesday, September 10th. They set a “sector perform” rating and a $358.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Citigroup increased their price objective on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a report on Monday, August 5th. Finally, Morgan Stanley increased their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $341.43.

About Public Storage

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.