First Allied Advisory Services Inc. cut its position in shares of Public Storage (NYSE:PSA) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,851 shares of the real estate investment trust’s stock after selling 1,083 shares during the period. First Allied Advisory Services Inc.’s holdings in Public Storage were worth $590,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Cable Hill Partners LLC raised its stake in shares of Public Storage by 139.9% in the 3rd quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 459 shares during the period. Advisory Services Network LLC raised its stake 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 acquiring an additional 611 shares during the period. Grimes & Company Inc. purchased a new stake in shares of Public Storage in the 3rd quarter valued at approximately $204,000. Glenview State Bank Trust DEPT. purchased a new stake in shares of Public Storage in the 3rd quarter valued at approximately $205,000. Finally, Fisher Asset Management LLC purchased a new stake in shares of Public Storage in the 3rd quarter valued at approximately $209,000. 79.88% of the stock is currently owned by institutional investors.
Public Storage (PSA) opened at $195.68 on Friday. The company has a quick ratio of 0.38, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. The firm has a market cap of $34,060.00, a P/E ratio of 29.08, a P/E/G ratio of 3.75 and a beta of 0.31. Public Storage has a twelve month low of $180.48 and a twelve month high of $232.21.
Public Storage (NYSE:PSA) last announced its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.03. The firm had revenue of $634.22 million during the quarter, compared to analysts’ expectations of $643.46 million. Public Storage had a net margin of 51.16% and a return on equity of 27.48%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 earnings per share. research analysts expect that Public Storage will post 10.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Tuesday, March 13th. Public Storage’s dividend payout ratio (DPR) is currently 118.87%.
In other Public Storage news, insider John Reyes sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary E. Pruitt sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the transaction, the director now owns 8,350 shares of the company’s stock, valued at approximately $1,770,951.50. The disclosure for this sale can be found here. Insiders own 14.42% of the company’s stock.
A number of equities research analysts have recently issued reports on PSA shares. Barclays reissued a “hold” rating and issued a $201.00 price target on shares of Public Storage in a research note on Wednesday, January 31st. Cantor Fitzgerald reissued a “hold” rating and issued a $213.00 price target on shares of Public Storage in a research note on Wednesday. Jefferies Group set a $212.00 price target on shares of Public Storage and gave the company a “hold” rating in a research note on Tuesday, November 28th. B. Riley set a $220.00 price target on shares of Public Storage and gave the company a “hold” rating in a research note on Wednesday, November 15th. Finally, SunTrust Banks reissued a “hold” rating and issued a $200.00 price target on shares of Public Storage in a research note on Friday, October 27th. Eight research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Public Storage has an average rating of “Hold” and an average target price of $205.77.
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Public Storage Company 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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