Chicago Partners Investment Group LLC Has $237,000 Stock Holdings in Public Storage (NYSE:PSA)

Chicago Partners Investment Group LLC grew its position in Public Storage (NYSE:PSA) by 5.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 789 shares of the real estate investment trust’s stock after purchasing an additional 41 shares during the period. Chicago Partners Investment Group LLC’s holdings in Public Storage were worth $237,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. Shum Financial Group Inc. grew its holdings in Public Storage by 1.7% during the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust’s stock worth $625,000 after acquiring an additional 35 shares during the last quarter. Lido Advisors LLC grew its holdings in Public Storage by 0.9% during the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust’s stock worth $1,287,000 after acquiring an additional 39 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Public Storage by 3.1% during the 1st quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust’s stock worth $388,000 after acquiring an additional 39 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in Public Storage by 1.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust’s stock worth $1,072,000 after acquiring an additional 39 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in Public Storage by 1.4% during the 4th quarter. Integrated Advisors Network LLC now owns 3,067 shares of the real estate investment trust’s stock worth $918,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

NYSE PSA opened at $280.42 on Wednesday. Public Storage has a 52-week low of $256.60 and a 52-week high of $369.99. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The business has a 50 day simple moving average of $290.22 and a 200 day simple moving average of $295.17. The stock has a market cap of $49.20 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 4.64 and a beta of 0.86.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $4.23 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on PSA. Barclays dropped their price objective on Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Wells Fargo & Company dropped their price objective on Public Storage from $330.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Wall Street Zen cut Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. BMO Capital Markets cut Public Storage from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $340.00 to $325.00 in a report on Friday, June 20th. Finally, Evercore ISI upped their price target on Public Storage from $308.00 to $309.00 and gave the company an “in-line” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $335.43.

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.