Public Storage (PSA), a leading firm in the
Real Estate Investment Trusts (REIT) market, has seen its
stock rise in recent months. Buoyed by increased interest from various investment fund entities such as
Simplicity Wealth LLC,
SG Americas Securities LLC, and
QRG Capital Management Inc. Key investor,
Wesbanco Bank Inc., took a $485,000 position in the company. In spite of this,
Bank of America downgraded PSA's rating to “neutral”. PSA missed Q1 2024 estimates but beat Q2 FFO estimates. PSA held its position in the stock market, with its shares reaching a new 12-month high of $315.26. Some experts suggest that
The Self-Storage Glut could significantly impact PSA in 2024, while others argue that PSA is still a suitable choice for portfolio diversification. PSA's Q1 2024 Earnings aligns with EPS Projections, despite facing market headwinds. PSA, however, showed weaker Earnings performance for Q2 2024. In fact, it faced occupancy and rent challenges and its stock performance still underperformed compared to its competitors. Despite this, the firm remains a popular choice among prominent investment bodies such as
Swedbank AB,
Price T Rowe Associates Inc. MD, and
Oppenheimer Asset Management Inc.
Public Storage PSA News Analytics from Thu, 14 Dec 2023 08:00:00 GMT to Sun, 11 Aug 2024 14:28:47 GMT -
Rating 7
- Innovation 2
- Information 8
- Rumor -2
