Public Storage $PSA Shares Newly Bought by First Nebraska Trust Co

First Nebraska Trust Co acquired a new position in shares of Public Storage (NYSE:PSA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,747 shares of the real estate investment trust’s stock, valued at approximately $3,039,000.

Other hedge funds also recently bought and sold shares of the company. XML Financial LLC boosted its stake in Public Storage by 71.0% in the 3rd quarter. XML Financial LLC now owns 6,792 shares of the real estate investment trust’s stock worth $1,921,000 after purchasing an additional 2,821 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in Public Storage by 2.0% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 328,055 shares of the real estate investment trust’s stock valued at $92,949,000 after purchasing an additional 6,501 shares during the period. Columbia Bank raised its stake in Public Storage by 4.9% during the 3rd quarter. Columbia Bank now owns 7,989 shares of the real estate investment trust’s stock valued at $2,260,000 after purchasing an additional 370 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Public Storage by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 817,245 shares of the real estate investment trust’s stock valued at $231,150,000 after purchasing an additional 11,074 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Public Storage in the third quarter valued at $12,827,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PSA. Weiss Ratings lowered Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Royal Bank Of Canada lifted their price target on Public Storage from $318.00 to $323.00 and gave the company a “sector perform” rating in a report on Wednesday, October 28th. Barclays lifted their price target on Public Storage from $350.00 to $351.00 and gave the company an “equal weight” rating in a report on Thursday, September 10th. Raymond James Financial assumed coverage on Public Storage in a research report on Thursday, July 16th. They set a “market perform” rating on the stock. Finally, Truist Financial initiated coverage on Public Storage in a research note on Friday, October 2nd. They issued a “buy” rating and a $317.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $323.68.

Public Storage Trading Down 0.1%

NYSE PSA opened at $333.06 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. The firm’s fifty day simple moving average is $299.22 and its 200-day simple moving average is $303.28. The company has a market capitalization of $62.23 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 4.96 and a beta of 0.89.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). Public Storage had a net margin of 37.76% and a return on equity of 29.93%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business posted $4.31 EPS. Public Storage’s revenue for the quarter was up .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Public Storage will post 16.97 earnings per share for the current fiscal year.

Public Storage Company Profile

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.