Public Storage (PSA) Holdings Cut by Heitman Real Estate Securities LLC
Heitman Real Estate Securities LLC reduced its stake in shares of Public Storage (NYSE:PSA) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,570 shares of the real estate investment trust’s stock after selling 3,280 shares during the quarter. Heitman Real Estate Securities LLC’s holdings in Public Storage were worth $24,498,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Silvant Capital Management LLC acquired a new position in Public Storage during the first quarter worth $101,000. NuWave Investment Management LLC raised its stake in Public Storage by 1,693.9% during the first quarter. NuWave Investment Management LLC now owns 592 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 559 shares in the last quarter. Kiley Juergens Wealth Management LLC acquired a new position in Public Storage during the second quarter worth $142,000. Signaturefd LLC bought a new stake in shares of Public Storage during the first quarter worth $132,000. Finally, Quad Cities Investment Group LLC bought a new stake in shares of Public Storage during the second quarter worth $151,000. Hedge funds and other institutional investors own 81.05% of the company’s stock.
PSA has been the topic of several research analyst reports. Goldman Sachs Group cut Public Storage from a “neutral” rating to a “sell” rating in a report on Wednesday, August 22nd. BMO Capital Markets restated a “sell” rating and set a $194.00 target price on shares of Public Storage in a report on Wednesday, August 1st. Morgan Stanley decreased their target price on Public Storage from $199.00 to $193.00 and set an “underweight” rating on the stock in a report on Thursday, June 14th. ValuEngine upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Finally, Barclays increased their target price on Public Storage from $205.00 to $212.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 17th. Seven equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $208.33.
Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.61 by ($0.61). The firm had revenue of $685.50 million during the quarter, compared to the consensus estimate of $686.32 million. Public Storage had a net margin of 55.00% and a return on equity of 30.37%. Public Storage’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.51 EPS. sell-side analysts expect that Public Storage will post 10.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Wednesday, September 12th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.76%. The ex-dividend date is Tuesday, September 11th. Public Storage’s dividend payout ratio is 78.20%.
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. The Company's headquarters are located in Glendale, California. At March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.
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