Public Storage (PSA), a dominant self-storage services provider is currently facing mixed investor sentiments. Institutions like
BBR Partners LLC and
Carrera Capital Advisors recently acquired shares while Private Advisor Group LLC and Charles Schwab Investment Management Inc. have reduced their respective holdings. Yet, investment entities like Jones Financial Companies and Cbre Investment Management still have multi-million dollar stakes. Besides, despite
Scotiabank and
RBC Capital lowering PSA's price target, it received a consensus price target of $340.69 from analysts.
The company missed Q4 FFO estimates and reported a decline in same-store revenues but its
operational stabilization and
strategic growth initiatives were highlighted in the Q4 earnings call. Future growth prospects come into question as Q4 results reveal key insights of heavy investment into an expansion ($221M) to mitigate LA Market Headwinds, with uncertainties looming around the impact of this strategy.
Despite bond yields dragging on the REIT sector, PSA remains popular among investors with its shares currently yielding around 4%. The firm keeps innovating, looking at tapping into underutilized rooftop space through solar power.
Public Storage PSA News Analytics from Fri, 23 Aug 2024 07:00:00 GMT to Sat, 08 Mar 2025 12:15:01 GMT -
Rating 5
- Innovation -3
- Information 5
- Rumor -3
