Donaldson Capital Management LLC Has $565,000 Stake in Public Storage (NYSE:PSA)
Donaldson Capital Management LLC decreased its holdings in Public Storage (NYSE:PSA) by 34.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,302 shares of the real estate investment trust’s stock after selling 1,195 shares during the quarter. Donaldson Capital Management LLC’s holdings in Public Storage were worth $565,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Cohen & Steers Inc. grew its holdings in shares of Public Storage by 36.3% during the 2nd quarter. Cohen & Steers Inc. now owns 8,050,898 shares of the real estate investment trust’s stock valued at $1,917,482,000 after purchasing an additional 2,142,247 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Public Storage by 31.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,966,418 shares of the real estate investment trust’s stock valued at $944,681,000 after acquiring an additional 945,431 shares during the last quarter. Nuveen Asset Management LLC grew its position in Public Storage by 113.6% during the second quarter. Nuveen Asset Management LLC now owns 1,746,052 shares of the real estate investment trust’s stock valued at $415,858,000 after acquiring an additional 928,491 shares during the last quarter. JPMorgan Chase & Co. grew its position in Public Storage by 10.8% during the second quarter. JPMorgan Chase & Co. now owns 3,980,811 shares of the real estate investment trust’s stock valued at $943,612,000 after acquiring an additional 388,950 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Public Storage by 18.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,162,760 shares of the real estate investment trust’s stock valued at $515,105,000 after acquiring an additional 341,718 shares during the last quarter. Institutional investors and hedge funds own 81.32% of the company’s stock.
PSA has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of Public Storage from $285.00 to $266.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. SunTrust Banks raised their price objective on Public Storage from $215.00 to $233.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Morgan Stanley raised Public Storage from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $193.00 to $240.00 in a research report on Monday, September 16th. Robert W. Baird raised Public Storage from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $200.00 to $254.00 in a research report on Wednesday, August 21st. Finally, Zacks Investment Research raised Public Storage from a “hold” rating to a “buy” rating and set a $255.00 price target for the company in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Public Storage presently has a consensus rating of “Hold” and a consensus price target of $245.56.
Shares of NYSE:PSA traded down $3.19 during mid-day trading on Friday, reaching $211.28. 784,117 shares of the company traded hands, compared to its average volume of 1,023,747. The company’s 50 day moving average price is $239.11 and its 200-day moving average price is $241.84. The firm has a market cap of $37.59 billion, a PE ratio of 20.01, a PEG ratio of 5.08 and a beta of 0.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 1.22. Public Storage has a 52 week low of $193.89 and a 52 week high of $266.76.
Public Storage (NYSE:PSA) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.03. Public Storage had a return on equity of 33.96% and a net margin of 60.98%. The company had revenue of $729.33 million during the quarter, compared to the consensus estimate of $732.26 million. During the same period in the previous year, the company posted $1.85 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. On average, research analysts predict that Public Storage will post 10.76 earnings per share for the current fiscal year.
Public Storage Company 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. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.
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