Public Storage $PSA Shares Newly Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC acquired a new stake in Public Storage (NYSE:PSA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,301 shares of the real estate investment trust’s stock, valued at approximately $651,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PSA. Peak Financial Advisors LLC bought a new stake in Public Storage during the third quarter worth $452,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Public Storage by 3.7% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 236,337 shares of the real estate investment trust’s stock valued at $66,846,000 after purchasing an additional 8,480 shares during the last quarter. Founders Financial Securities LLC grew its holdings in shares of Public Storage by 2.3% during the 3rd quarter. Founders Financial Securities LLC now owns 9,357 shares of the real estate investment trust’s stock valued at $2,647,000 after purchasing an additional 213 shares during the last quarter. Choreo LLC increased its position in Public Storage by 80.7% during the 3rd quarter. Choreo LLC now owns 3,926 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 1,753 shares in the last quarter. Finally, Childress Capital Advisors LLC increased its position in Public Storage by 214.3% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,335 shares of the real estate investment trust’s stock worth $660,000 after purchasing an additional 1,592 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of Public Storage stock opened at $333.02 on Tuesday. The company has a market cap of $58.49 billion, a P/E ratio of 18.25, a PEG ratio of 4.62 and a beta of 0.94. The company has a current ratio of 1.00, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. The business has a 50-day moving average price of $299.06 and a two-hundred day moving average price of $303.06. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55.

Public Storage (NYSE:PSA) last released its earnings results on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing the consensus estimate of $2.49 by ($0.80). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $4.31 EPS. As a group, analysts anticipate that Public Storage will post 16.96 EPS for the current year.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James Financial began coverage on shares of Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating for the company. Barclays boosted their target price on shares of Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 10th. Royal Bank Of Canada upped their price target on shares of Public Storage from $318.00 to $323.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 28th. UBS Group reiterated a “neutral” rating on shares of Public Storage in a report on Tuesday, October 27th. Finally, Scotiabank reduced their price objective on Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, Public Storage has a consensus rating of “Hold” and an average price target of $323.68.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.