D.A. Davidson & CO. raised its position in Public Storage (NYSE:PSA) by 43.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,886 shares of the real estate investment trust’s stock after purchasing an additional 569 shares during the quarter. D.A. Davidson & CO.’s holdings in Public Storage were worth $378,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSA. Tower Research Capital LLC TRC raised its stake 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 purchasing an additional 471 shares during the period. NuWave Investment Management LLC grew its holdings in shares of Public Storage by 1,693.9% in the 1st quarter. NuWave Investment Management LLC now owns 592 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 559 shares in the last quarter. Truewealth LLC bought a new position in shares of Public Storage in the 4th quarter valued at about $127,000. Trustcore Financial Services LLC bought a new position in shares of Public Storage in the 4th quarter valued at about $145,000. Finally, Certified Advisory Corp bought a new position in shares of Public Storage in the 4th quarter valued at about $175,000. 82.08% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Lily Yan Hughes sold 443 shares of Public Storage 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 is accessible through this hyperlink. Company insiders own 14.00% of the company’s stock.
Public Storage stock opened at $203.59 on Friday. Public Storage has a 52 week low of $180.48 and a 52 week high of $219.93. The stock has a market cap of $35.51 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 3.85 and a beta of 0.27.
Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.02). Public Storage had a return on equity of 27.68% and a net margin of 50.72%. The business had revenue of $669.90 million for the quarter, compared to the consensus estimate of $598.28 million. During the same quarter in the previous year, the business posted $2.37 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. analysts forecast that Public Storage will post 10.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Wednesday, June 13th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, June 12th. Public Storage’s payout ratio is currently 78.20%.
Several equities analysts have recently weighed in on the company. 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. ValuEngine cut Public Storage from a “hold” rating to a “sell” rating in a report on Friday. Barclays restated a “hold” rating and issued a $203.00 price objective on shares of Public Storage in a report on Tuesday, April 17th. Zacks Investment Research cut Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Finally, Wells Fargo restated a “hold” rating and issued a $210.00 price objective (down previously from $225.00) on shares of Public Storage in a report on Thursday, March 15th. They noted that the move was a valuation call. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $204.60.
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. 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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