Tredje AP fonden decreased its position in shares of Public Storage (NYSE:PSA) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,461 shares of the real estate investment trust’s stock after selling 938 shares during the period. Tredje AP fonden’s holdings in Public Storage were worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Royal Fund Management LLC acquired a new position in shares of Public Storage in the 1st quarter worth approximately $32,000. HCR Wealth Advisors acquired a new position in Public Storage in the first quarter worth $1,080,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Public Storage by 91.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,793 shares of the real estate investment trust’s stock worth $1,547,000 after purchasing an additional 3,733 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Public Storage by 34.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 7,837 shares of the real estate investment trust’s stock valued at $1,557,000 after buying an additional 2,002 shares in the last quarter. Finally, AGF Investments Inc. bought a new position in shares of Public Storage in the first quarter valued at about $648,000. Institutional investors own 78.14% of the company’s stock.
Several equities research analysts have weighed in on the stock. Citigroup lowered their price objective on shares of Public Storage from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. BMO Capital Markets lowered their price target on shares of Public Storage from $205.00 to $175.00 and set an “underperform” rating for the company in a report on Friday, May 1st. SunTrust Banks dropped their price objective on shares of Public Storage from $205.00 to $195.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Wells Fargo & Co decreased their price objective on Public Storage from $202.00 to $201.00 and set an “underweight” rating on the stock in a research report on Thursday, April 2nd. Finally, Stifel Nicolaus boosted their target price on Public Storage from $183.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Public Storage currently has an average rating of “Hold” and a consensus price target of $222.41.
Shares of PSA stock traded up $3.70 during trading hours on Friday, reaching $186.47. The company had a trading volume of 621,243 shares, compared to its average volume of 1,055,254. Public Storage has a 1-year low of $155.37 and a 1-year high of $266.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market cap of $31.95 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 4.88 and a beta of 0.10. The company has a 50 day moving average of $190.50 and a 200 day moving average of $207.80.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.08. Public Storage had a return on equity of 30.33% and a net margin of 52.93%. The business had revenue of $716.08 million during the quarter, compared to the consensus estimate of $710.00 million. During the same quarter in the prior year, the company posted $1.73 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that Public Storage will post 10.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $2.00 dividend. The ex-dividend date is Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.29%. Public Storage’s dividend payout ratio (DPR) is presently 74.42%.
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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