Pacific Center for Financial Services Has $220,000 Holdings in Public Storage (PSA)
Pacific Center for Financial Services continued to hold its position in shares of Public Storage (NYSE:PSA) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,053 shares of the real estate investment trust’s stock at the close of the 2nd quarter. Pacific Center for Financial Services’ holdings in Public Storage were worth $220,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Israel Discount Bank of New York bought a new stake in shares of Public Storage during the 1st quarter worth $100,000. Bessemer Group Inc. bought a new stake in shares of Public Storage during the 2nd quarter worth $105,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Public Storage by 15.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 75 shares during the period. Guardian Life Insurance Co. of America boosted its holdings in shares of Public Storage by 0.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 5 shares during the period. Finally, CENTRAL TRUST Co boosted its holdings in shares of Public Storage by 41.3% during the 2nd quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 169 shares during the period. 80.15% of the stock is owned by institutional investors and hedge funds.
In related news, Director Ronald P. Spogli acquired 2,000 shares of Public Storage stock in a transaction on Thursday, August 3rd. The stock was purchased at an average cost of $200.59 per share, with a total value of $401,180.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.42% of the company’s stock.
Shares of Public Storage (NYSE:PSA) traded up 0.02% during mid-day trading on Tuesday, reaching $215.90. 191,998 shares of the company’s stock were exchanged. Public Storage has a 52-week low of $192.15 and a 52-week high of $232.21. The stock’s 50-day moving average is $204.91 and its 200-day moving average is $212.46. The stock has a market cap of $37.57 billion, a price-to-earnings ratio of 30.80 and a beta of 0.42.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS for the quarter, missing the Zacks’ consensus estimate of $2.54 by ($0.95). Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $626.27 million. During the same period last year, the firm earned $2.40 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Public Storage will post $7.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, September 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.71%. Public Storage’s dividend payout ratio (DPR) is 113.96%.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Thursday, June 1st. Cantor Fitzgerald decreased their price objective on shares of Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a report on Monday, May 22nd. BMO Capital Markets assumed coverage on shares of Public Storage in a report on Monday, September 11th. They set an “underperform” rating and a $193.00 price objective for the company. BidaskClub raised shares of Public Storage from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Finally, Evercore ISI reaffirmed an “underperform” rating and set a $204.00 price objective (up from $197.00) on shares of Public Storage in a report on Thursday, September 14th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $214.91.
Public Storage Profile
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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