Savvy Advisors Inc. Acquires 143 Shares of Public Storage (NYSE:PSA)

Savvy Advisors Inc. increased its position in shares of Public Storage (NYSE:PSA) by 10.2% during the first quarter, Holdings Channel reports. The institutional investor owned 1,539 shares of the real estate investment trust’s stock after purchasing an additional 143 shares during the period. Savvy Advisors Inc.’s holdings in Public Storage were worth $461,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in Public Storage during the 4th quarter worth approximately $30,000. Spectrum Wealth Counsel LLC acquired a new position in Public Storage during the 1st quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Public Storage during the 4th quarter worth approximately $32,000. Opal Wealth Advisors LLC acquired a new position in Public Storage during the 1st quarter worth approximately $36,000. Finally, Parvin Asset Management LLC acquired a new position in Public Storage during the 4th quarter worth approximately $38,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on PSA. Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. BNP Paribas Exane began coverage on Public Storage in a research note on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 price objective for the company. Wells Fargo & Company lowered their price objective on Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. Mizuho increased their price objective on Public Storage from $287.00 to $309.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. Finally, Scotiabank increased their price objective on Public Storage from $305.00 to $340.00 and gave the stock a “sector outperform” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.43.

Public Storage Price Performance

Shares of NYSE PSA opened at $281.88 on Friday. The stock has a fifty day simple moving average of $291.28 and a two-hundred day simple moving average of $295.33. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The firm has a market cap of $49.45 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 4.11 and a beta of 0.86. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company earned $4.23 earnings per share. Public Storage’s revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that Public Storage will post 16.7 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.