Public Storage (PSA) Stake Increased by ProShare Advisors LLC
ProShare Advisors LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,334 shares of the real estate investment trust’s stock after acquiring an additional 472 shares during the quarter. ProShare Advisors LLC’s holdings in Public Storage were worth $13,207,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. UBS Asset Management Americas Inc. boosted its stake in shares of Public Storage by 13.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 790,428 shares of the real estate investment trust’s stock worth $173,033,000 after acquiring an additional 96,207 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Public Storage by 56.8% during the 1st quarter. Toronto Dominion Bank now owns 40,306 shares of the real estate investment trust’s stock worth $8,822,000 after acquiring an additional 14,602 shares in the last quarter. Scout Investments Inc. bought a new stake in shares of Public Storage during the 1st quarter worth about $8,829,000. Green Street Investors LLC boosted its stake in shares of Public Storage by 26.8% during the 1st quarter. Green Street Investors LLC now owns 38,050 shares of the real estate investment trust’s stock worth $8,330,000 after acquiring an additional 8,050 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of Public Storage by 12.8% during the 1st quarter. Virginia Retirement Systems ET AL now owns 133,954 shares of the real estate investment trust’s stock worth $29,324,000 after acquiring an additional 15,200 shares in the last quarter. Institutional investors own 80.22% of the company’s stock.
Several analysts have recently issued reports on the company. Jefferies Group LLC set a $210.00 price target on Public Storage and gave the stock a “hold” rating in a research note on Thursday, August 17th. Bank of America Corporation decreased their price target on Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub upgraded Public Storage from a “strong sell” rating to a “sell” rating in a research note on Friday, June 16th. Finally, Cantor Fitzgerald decreased their price target on Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a research note on Monday, May 22nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $214.91.
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Shares of Public Storage (NYSE PSA) traded up 0.75% during mid-day trading on Friday, hitting $214.15. The company’s stock had a trading volume of 1,032,132 shares. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21. The company has a market cap of $37.26 billion, a price-to-earnings ratio of 30.55 and a beta of 0.42. The company has a 50-day moving average of $204.54 and a 200 day moving average of $212.77.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.95). Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $626.27 million. During the same quarter in the prior year, the firm earned $2.40 EPS. The company’s revenue was up 5.0% on a year-over-year basis. On average, analysts expect that Public Storage will post $7.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Tuesday, September 12th. Public Storage’s dividend payout ratio is presently 113.96%.
In other news, Director Ronald P. Spogli acquired 2,000 shares of Public Storage stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of $200.59 per share, for a total transaction of $401,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.42% of the company’s stock.
About Public Storage
Public Storage is a real estate investment trust (REIT). The Company’s principal 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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