Integrated Advisors Network LLC Buys 114 Shares of Public Storage (NYSE:PSA)

Integrated Advisors Network LLC increased its stake in Public Storage (NYSE:PSA) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,026 shares of the real estate investment trust’s stock after purchasing an additional 114 shares during the quarter. Integrated Advisors Network LLC’s holdings in Public Storage were worth $1,101,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PSA shares. Royal Bank of Canada started coverage on shares of Public Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 target price for the company. Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Morgan Stanley upped their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Barclays boosted their price target on shares of Public Storage from $374.00 to $381.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group boosted their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $341.43.

Public Storage Price Performance

NYSE PSA opened at $335.49 on Thursday. The company 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. 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. The firm’s 50-day simple moving average is $348.12 and its two-hundred day simple moving average is $308.26.

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 analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The firm had revenue of $921.70 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company posted $4.28 earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. Research analysts predict that Public Storage will post 16.73 earnings per share 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.