Xact Kapitalforvaltning AB lifted its stake in shares of Public Storage (NYSE:PSA) by 5.0% during the first quarter, HoldingsChannel.com reports. The fund owned 28,922 shares of the real estate investment trust’s stock after acquiring an additional 1,387 shares during the period. Xact Kapitalforvaltning AB’s holdings in Public Storage were worth $5,796,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC increased its holdings in Public Storage by 184.6% in the fourth 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 last quarter. D.A. Davidson & CO. purchased a new position in Public Storage in the fourth quarter valued at $275,000. Schroder Investment Management Group increased its holdings in Public Storage by 3.6% in the fourth quarter. Schroder Investment Management Group now owns 110,757 shares of the real estate investment trust’s stock valued at $23,148,000 after buying an additional 3,894 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Public Storage by 841.1% in the fourth 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 last quarter. Finally, Virtu Financial LLC purchased a new position in Public Storage in the fourth quarter valued at $1,235,000. 81.20% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on the company. ValuEngine lowered Public Storage from a “hold” rating to a “sell” rating in a report on Friday, May 18th. Barclays reissued a “hold” rating and issued a $203.00 target price on shares of Public Storage in a report on Tuesday, April 17th. Morgan Stanley dropped their target price on Public Storage from $199.00 to $193.00 and set an “underweight” rating on the stock in a report on Thursday, June 14th. Jefferies Financial Group reissued a “neutral” rating on shares of Public Storage in a report on Thursday, April 26th. Finally, KeyCorp set a $179.00 target price on Public Storage and gave the company a “sell” rating in a report on Thursday, March 15th. Seven equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $204.20.
NYSE PSA opened at $221.84 on Friday. Public Storage has a 1 year low of $180.48 and a 1 year high of $222.03. The firm has a market capitalization of $38.07 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 4.13 and a beta of 0.30.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.02). Public Storage had a net margin of 50.72% and a return on equity of 27.68%. The company had revenue of $669.90 million during the quarter, compared to analyst estimates of $598.28 million. During the same quarter in the prior year, the company earned $2.37 EPS. The business’s revenue was up 3.8% on a year-over-year basis. equities research analysts forecast that Public Storage will post 10.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Wednesday, June 13th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, June 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.61%. Public Storage’s dividend payout ratio (DPR) is 78.20%.
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 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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