Duff & Phelps Investment Management Co. Lowers Position in Public Storage (NYSE:PSA)

Duff & Phelps Investment Management Co. lowered its holdings in Public Storage (NYSE:PSA) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,825 shares of the real estate investment trust’s stock after selling 2,700 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.06% of Public Storage worth $23,299,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Clarius Group LLC increased its position in shares of Public Storage by 6.3% during the 2nd quarter. Clarius Group LLC now owns 2,082 shares of the real estate investment trust’s stock valued at $496,000 after purchasing an additional 123 shares during the last quarter. Employers Holdings Inc. bought a new position in shares of Public Storage during the 2nd quarter valued at about $191,000. Envestnet Asset Management Inc. increased its position in shares of Public Storage by 8.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 30,760 shares of the real estate investment trust’s stock valued at $7,326,000 after purchasing an additional 2,462 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Public Storage by 1.5% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 13,998 shares of the real estate investment trust’s stock valued at $3,319,000 after purchasing an additional 205 shares during the last quarter. Finally, Sigma Planning Corp increased its position in shares of Public Storage by 20.1% during the 2nd quarter. Sigma Planning Corp now owns 2,947 shares of the real estate investment trust’s stock valued at $702,000 after purchasing an additional 493 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Public Storage stock traded down $0.14 during trading on Friday, hitting $259.81. 6,600 shares of the stock traded hands, compared to its average volume of 839,775. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.38. The stock has a market cap of $45.09 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 6.02 and a beta of 0.17. The firm’s fifty day moving average is $247.02 and its 200-day moving average is $228.69. Public Storage has a 52 week low of $193.89 and a 52 week high of $260.30.



Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.87). Public Storage had a return on equity of 33.78% and a net margin of 60.77%. The company had revenue of $710.95 million for the quarter, compared to the consensus estimate of $702.70 million. During the same quarter in the previous year, the business earned $2.57 earnings per share. Public Storage’s revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast that Public Storage will post 10.73 earnings per share for the current fiscal year.

In related news, Chairman B Wayne Et Al Hughes sold 38,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $257.89, for a total transaction of $9,799,820.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.00% of the stock is owned by company insiders.

Several brokerages have recently commented on PSA. ValuEngine upgraded Public Storage from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Bank of America upgraded Public Storage from a “neutral” rating to a “buy” rating in a research report on Friday, July 19th. Finally, KeyCorp upgraded Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price objective on the stock in a research report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $222.45.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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