TD Asset Management Inc. Purchases 73,037 Shares of Public Storage (NYSE:PSA)

TD Asset Management Inc. increased its position in shares of Public Storage (NYSE:PSA) by 78.1% during the 2nd quarter, Holdings Channel reports. The fund owned 166,527 shares of the real estate investment trust’s stock after buying an additional 73,037 shares during the quarter. TD Asset Management Inc.’s holdings in Public Storage were worth $39,662,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of Public Storage by 0.7% during the 1st quarter. BlackRock Inc. now owns 16,103,954 shares of the real estate investment trust’s stock worth $3,507,120,000 after buying an additional 112,313 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Public Storage by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock worth $497,192,000 after purchasing an additional 178,705 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Public Storage by 18.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,162,760 shares of the real estate investment trust’s stock worth $515,105,000 after purchasing an additional 341,718 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Public Storage by 18.5% in the 1st quarter. California Public Employees Retirement System now owns 1,028,520 shares of the real estate investment trust’s stock worth $223,991,000 after purchasing an additional 160,624 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Public Storage by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 987,757 shares of the real estate investment trust’s stock worth $215,114,000 after purchasing an additional 35,248 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

In other news, Chairman B Wayne Et Al Hughes sold 38,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 14.00% of the company’s stock.



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

NYSE PSA traded up $3.84 on Thursday, reaching $259.48. The company had a trading volume of 4,464 shares, compared to its average volume of 828,005. The stock has a market capitalization of $45.17 billion, a PE ratio of 24.54, a P/E/G ratio of 6.11 and a beta of 0.17. The business has a fifty day moving average price of $246.53. Public Storage has a 52-week low of $193.89 and a 52-week high of $260.17. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.38.

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

About Public Storage

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.

Further Reading: Death Cross

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

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