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:PSAFree Report) 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:PSAGet Free Report) 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.

Check Out Our Latest Stock Report on PSA

About Public Storage

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSAFree Report).

Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.