SG Americas Securities LLC trimmed its stake in shares of Public Storage (NYSE:PSA) by 75.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,675 shares of the real estate investment trust’s stock after selling 79,928 shares during the period. SG Americas Securities LLC’s holdings in Public Storage were worth $6,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of Public Storage during the third quarter valued at $28,000. Ashburton Jersey Ltd purchased a new stake in shares of Public Storage during the second quarter valued at $32,000. KCS Wealth Advisory purchased a new stake in shares of Public Storage during the third quarter valued at $33,000. Manchester Financial Inc. acquired a new position in Public Storage during the second quarter valued at $34,000. Finally, Coastal Investment Advisors Inc. acquired a new position in Public Storage during the second quarter valued at $48,000. 81.32% of the stock is owned by institutional investors and hedge funds.

PSA stock traded down $3.12 during mid-day trading on Friday, hitting $211.35. The stock had a trading volume of 958,694 shares, compared to its average volume of 874,042. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.38. Public Storage has a 1-year low of $193.89 and a 1-year high of $266.76. The company has a fifty day moving average of $238.33 and a 200 day moving average of $241.81. The stock has a market capitalization of $37.59 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 5.08 and a beta of 0.07.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $1.93 earnings per share for the quarter, topping the 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 for the quarter, compared to analyst estimates of $732.26 million. During the same period in the prior year, the firm posted $1.85 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Public Storage will post 10.76 earnings per share for the current fiscal year.

In other Public Storage news, Chairman B Wayne Et Al Hughes sold 38,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $257.89, for a total value of $9,799,820.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 14.00% of the company’s stock.

PSA has been the topic of several recent analyst reports. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating in a research report on Friday, July 19th. ValuEngine lowered Public Storage from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Barclays set a $256.00 price target on Public Storage and gave the company a “sell” rating in a research report on Friday, October 11th. Argus upped their price target on Public Storage to $290.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. They noted that the move was a valuation call. Finally, Morgan Stanley raised Public Storage from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $193.00 to $240.00 in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Public Storage currently has an average rating of “Hold” and a consensus target price of $245.56.

About Public Storage

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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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