Sterling Investment Advisors Ltd. trimmed its holdings in shares of Public Storage (NYSE:PSA) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,198 shares of the real estate investment trust’s stock after selling 498 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Public Storage were worth $1,476,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of PSA. Daiwa Securities Group Inc. raised its stake in shares of Public Storage by 190.7% during the first quarter. Daiwa Securities Group Inc. now owns 1,821,042 shares of the real estate investment trust’s stock worth $396,586,000 after buying an additional 1,194,522 shares during the last quarter. Centersquare Investment Management LLC raised its stake in shares of Public Storage by 98.4% during the first quarter. Centersquare Investment Management LLC now owns 913,756 shares of the real estate investment trust’s stock worth $198,998,000 after buying an additional 453,207 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Public Storage by 289.4% during the first quarter. Janus Henderson Group PLC now owns 528,671 shares of the real estate investment trust’s stock worth $115,135,000 after buying an additional 392,914 shares during the last quarter. Pennsylvania Trust Co acquired a new position in Public Storage during the first quarter valued at approximately $2,596,000. Finally, Geode Capital Management LLC grew its holdings in Public Storage by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock valued at $497,192,000 after purchasing an additional 178,705 shares during the period. 79.24% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on PSA shares. ValuEngine upgraded shares of Public Storage from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. KeyCorp upgraded shares of Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price objective for the company in a report on Tuesday, June 11th. Robert W. Baird upgraded shares of Public Storage from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $200.00 to $254.00 in a report on Wednesday. Bank of America upgraded shares of Public Storage from a “neutral” rating to a “buy” rating in a report on Friday, July 19th. Finally, Stifel Nicolaus started coverage on shares of Public Storage in a report on Monday, August 19th. They set a “buy” rating and a $285.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $234.22.
NYSE PSA traded down $2.39 during trading on Friday, reaching $259.50. 628,772 shares of the stock traded hands, compared to its average volume of 835,319. The firm has a market cap of $45.58 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 6.07 and a beta of 0.17. The stock’s 50-day moving average price is $250.19 and its 200 day moving average price is $230.34. 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 has a fifty-two week low of $193.89 and a fifty-two week high of $264.56.
Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.63 by ($0.87). The company had revenue of $710.95 million during the quarter, compared to analyst estimates of $702.70 million. Public Storage had a net margin of 60.77% and a return on equity of 33.78%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 EPS. Analysts anticipate that Public Storage will post 10.75 EPS for the current fiscal year.
Public Storage 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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