QS Investors LLC lifted its position in Public Storage (NYSE:PSA) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,710 shares of the real estate investment trust’s stock after buying an additional 385 shares during the quarter. QS Investors LLC’s holdings in Public Storage were worth $2,447,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in shares of Public Storage by 841.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 527 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 471 shares during the period. Truewealth LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at $127,000. Trustcore Financial Services LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at $145,000. Advisory Services Network LLC raised its holdings in shares of Public Storage by 184.6% in the 4th quarter. Advisory Services Network LLC now owns 942 shares of the real estate investment trust’s stock valued at $197,000 after buying an additional 611 shares during the period. Finally, Mutual Advisors LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at $212,000. Hedge funds and other institutional investors own 81.66% of the company’s stock.
Several equities research analysts recently issued reports on the company. Robert W. Baird downgraded Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price objective on the stock. in a report on Tuesday, November 28th. Bank of America downgraded Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price objective on the stock. in a report on Monday, December 4th. They noted that the move was a valuation call. Morgan Stanley downgraded Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective on the stock. in a report on Wednesday, December 13th. Jefferies Group set a $212.00 price objective on Public Storage and gave the company a “hold” rating in a report on Tuesday, November 28th. Finally, Cantor Fitzgerald set a $213.00 price objective on Public Storage and gave the company a “hold” rating in a report on Monday, March 12th. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $204.47.
In other news, SVP Lily Yan Hughes sold 443 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $194.53, for a total transaction of $86,176.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 14.42% of the company’s stock.
Public Storage (NYSE:PSA) opened at $196.72 on Tuesday. Public Storage has a one year low of $180.48 and a one year high of $232.21. The company has a market capitalization of $34,496.31, a price-to-earnings ratio of 19.78, a P/E/G ratio of 3.92 and a beta of 0.31.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.72 by $0.03. The business had revenue of $634.22 million during the quarter, compared to analysts’ expectations of $643.46 million. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 EPS. research analysts anticipate that Public Storage will post 10.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, March 13th. This represents a $8.00 annualized dividend and a dividend yield of 4.07%. Public Storage’s dividend payout ratio is currently 118.69%.
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. The Company's headquarters are located in Glendale, California. At December 31, 2017, we had interests in 2,386 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 222 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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