Childress Capital Advisors LLC Invests $221,000 in Public Storage (NYSE:PSA)

Childress Capital Advisors LLC bought a new position in Public Storage (NYSE:PSA) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 607 shares of the real estate investment trust’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Petredis Investment Advisors LLC grew its position in shares of Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after buying an additional 30 shares during the period. Yoder Wealth Management Inc. grew its position in shares of Public Storage by 5.0% in the 3rd quarter. Yoder Wealth Management Inc. now owns 763 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 36 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Public Storage by 0.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock worth $1,201,000 after buying an additional 39 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in Public Storage by 3.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 42 shares in the last quarter. Finally, Rise Advisors LLC boosted its stake in Public Storage by 3.4% in the 3rd quarter. Rise Advisors LLC now owns 1,275 shares of the real estate investment trust’s stock worth $464,000 after purchasing an additional 42 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSA has been the topic of a number of analyst reports. Evercore ISI dropped their price target 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. Citigroup upped their price target on shares of Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a research note on Thursday, August 1st. Royal Bank of Canada initiated coverage on shares of Public Storage in a research note on Tuesday, September 10th. They issued a “sector perform” rating and a $358.00 price target on the stock. Finally, Wells Fargo & Company upped their price target 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $341.43.

Public Storage Price Performance

NYSE PSA opened at $335.49 on Thursday. Public Storage has a 52 week low of $233.18 and a 52 week high of $369.99. The firm has a market capitalization of $58.72 billion, a P/E ratio of 31.44, a PEG ratio of 4.74 and a beta of 0.68. 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 company has a 50-day moving average price of $348.12 and a 200-day moving average price of $308.26.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The business had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $4.28 EPS. Public Storage’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts anticipate that Public Storage will post 16.73 earnings per share for the current year.

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.