Voya Investment Management LLC Purchases 1,472 Shares of Public Storage (PSA)
Voya Investment Management LLC raised its position in Public Storage (NYSE:PSA) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,801 shares of the real estate investment trust’s stock after acquiring an additional 1,472 shares during the period. Voya Investment Management LLC’s holdings in Public Storage were worth $12,262,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PSA. Blair William & Co. IL raised its holdings in Public Storage by 9.8% in the 1st quarter. Blair William & Co. IL now owns 2,903 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 259 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Public Storage by 0.5% in the 1st quarter. Alliancebernstein L.P. now owns 434,429 shares of the real estate investment trust’s stock valued at $95,101,000 after acquiring an additional 2,166 shares in the last quarter. AXA raised its holdings in Public Storage by 6.3% in the 1st quarter. AXA now owns 66,005 shares of the real estate investment trust’s stock valued at $14,449,000 after acquiring an additional 3,889 shares in the last quarter. Kempen Capital Management N.V. raised its holdings in Public Storage by 9.4% in the 1st quarter. Kempen Capital Management N.V. now owns 38,086 shares of the real estate investment trust’s stock valued at $8,337,000 after acquiring an additional 3,280 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in Public Storage in the 1st quarter valued at approximately $1,066,000. 80.15% of the stock is owned by hedge funds and other institutional investors.
In other Public Storage news, Director Ronald P. Spogli purchased 2,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was bought at an average cost of $200.59 per share, for a total transaction of $401,180.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 14.42% of the stock is currently owned by insiders.
Several equities analysts have commented on the company. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Evercore ISI reaffirmed an “underperform” rating and issued a $204.00 price target (up previously from $197.00) on shares of Public Storage in a report on Thursday, September 14th. KeyCorp reaffirmed a “sell” rating and issued a $184.00 price target on shares of Public Storage in a report on Wednesday, September 13th. BMO Capital Markets assumed coverage on Public Storage in a report on Monday, September 11th. They issued an “underperform” rating and a $193.00 price target for the company. Finally, Jefferies Group LLC set a $210.00 price target on Public Storage and gave the company a “hold” rating in a report on Thursday, August 17th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Public Storage has an average rating of “Hold” and a consensus target price of $214.91.
Shares of Public Storage (NYSE:PSA) opened at 213.68 on Friday. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21. The company has a market capitalization of $37.18 billion, a price-to-earnings ratio of 30.48 and a beta of 0.44. The stock has a 50 day moving average price of $209.62 and a 200 day moving average price of $211.77.
Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.95). Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $626.27 million. During the same quarter in the previous year, the firm posted $2.40 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts forecast that Public Storage will post $7.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th were given a $2.00 dividend. The ex-dividend date was Tuesday, September 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.74%. Public Storage’s payout ratio is 113.96%.
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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