Public Storage (PSA)

• Market cap: $58.7B
• 1 day: 0.97%
• 5 days: -0.55%
• 1 month: -2.89%
• 3 months: 5.60%
• 6 months: 16.87%
• Year to date: 7.43%
• 1 year: 28.56%
• 5 years: 57.13%
• 10 years: 79.92%
• Sector: Financials
• Industry: Real Estate Investment Trusts

About: Public Storage is the largest owner of self-storage facilities in the us with more than 3,000 self-storage facilities in 40 states and approximately 219 million square feet of rentable space. Through equity interests, it also has exposure to the European self-storage market through Shurgard Self Storage. The company also has a merchandise business, a third-party property management business, and an insurance business that offers products to cover losses for the goods in self-storage facilities.

Employees: 6,200

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

64% more funds holding in top 10

Funds holding in top 10: 14 [Q2] → 23 (+9) [Q3]

38% more first-time investments, than exits

New positions opened: 144 | Existing positions closed: 104

25% more capital invested

Capital invested by funds: $40.1B [Q2] → $50.3B (+$10.1B) [Q3]

4% more funds holding

Funds holding: 1,046 [Q2] → 1,086 (+40) [Q3]

9% more repeat investments, than reductions

Existing positions increased: 407 | Existing positions reduced: 375

0.29% more ownership

Funds ownership: 79.54% [Q2] → 79.84% (+0.29%) [Q3]

17% less call options, than puts

Call options by funds: $79.9M | Put options by funds: $96.6M

Research analyst outlook

14 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $315 6% downside
• Avg. target: $360 8% upside
• High target: $422 26% upside

14 analyst ratings

• positive: 7 50%
• neutral: 7 50%
• negative: 0 0%

Barclays Brendan Lynch 50% 1-year accuracy 14 / 28 met price target	13% upside $380	Overweight Maintained	12 Nov 2024
RBC Capital Brad Heffern 74% 1-year accuracy 28 / 38 met price target	3% upside $344	Sector Perform Maintained	8 Nov 2024
Wells Fargo Eric Luebchow 79% 1-year accuracy 34 / 43 met price target	9% upside $365	Overweight Maintained	5 Nov 2024
Barclays Brendan Lynch 50% 1-year accuracy 14 / 28 met price target	14% upside $381	Overweight Maintained	28 Oct 2024
Wells Fargo Eric Luebchow 79% 1-year accuracy 34 / 43 met price target	12% upside $375	Overweight Maintained	21 Oct 2024