American Century Companies Inc. Sells 371,039 Shares of Public Storage (PSA)
American Century Companies Inc. decreased its stake in shares of Public Storage (NYSE:PSA) by 61.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 236,034 shares of the real estate investment trust’s stock after selling 371,039 shares during the period. American Century Companies Inc. owned about 0.14% of Public Storage worth $60,328,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Washington Trust Bank raised its position in Public Storage by 7.4% in the second quarter. Washington Trust Bank now owns 420 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 29 shares during the period. Capital Advisors Ltd. LLC raised its position in Public Storage by 35.4% in the second quarter. Capital Advisors Ltd. LLC now owns 555 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 145 shares during the period. Financial Architects Inc raised its position in Public Storage by 398.6% in the second quarter. Financial Architects Inc now owns 733 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 586 shares during the period. Pure Financial Advisors Inc. purchased a new position in Public Storage during the second quarter valued at $209,000. Finally, Fisher Asset Management LLC purchased a new position in Public Storage during the second quarter valued at $213,000. 77.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Public Storage (NYSE:PSA) traded down 1.80% on Tuesday, hitting $212.66. 857,057 shares of the stock traded hands. The firm’s 50 day moving average is $222.13 and its 200-day moving average is $246.06. Public Storage has a 12 month low of $211.40 and a 12 month high of $277.60. The company has a market cap of $36.88 billion, a PE ratio of 33.65 and a beta of 0.61.
Public Storage (NYSE:PSA) last issued its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $2.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by $0.06. Public Storage had a return on equity of 25.44% and a net margin of 52.53%. The company had revenue of $634.20 million for the quarter, compared to analyst estimates of $607.28 million. During the same period in the prior year, the business earned $2.17 earnings per share. Public Storage’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts predict that Public Storage will post $9.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th were issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Monday, September 12th. Public Storage’s dividend payout ratio (DPR) is currently 113.92%.
Several research firms have recently weighed in on PSA. Bank of America Corp. lowered shares of Public Storage from a “buy” rating to a “neutral” rating in a report on Thursday, August 11th. KeyCorp lowered shares of Public Storage from a “sector weight” rating to an “underweight” rating and set a $230.00 price target for the company. in a report on Friday, July 15th. Evercore ISI raised shares of Public Storage from a “sell” rating to a “hold” rating and set a $228.00 price target for the company in a report on Monday, August 22nd. FBR & Co reissued a “marketperform” rating and issued a $250.00 price target on shares of Public Storage in a report on Wednesday, June 22nd. Finally, Jefferies Group cut their price target on shares of Public Storage from $270.00 to $245.00 and set a “hold” rating for the company in a report on Wednesday, August 10th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Public Storage has a consensus rating of “Hold” and an average target price of $243.24.
In other Public Storage news, insider John Reyes sold 30,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $215.41, for a total value of $6,462,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 14.20% of the stock is owned by company insiders.
Public Storage Company Profile
Public Storage is a real estate investment trust. The Company’s business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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