Commerce Bank raised its position in Public Storage (NYSE:PSA) by 457.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,477 shares of the real estate investment trust’s stock after acquiring an additional 51,278 shares during the quarter. Commerce Bank’s holdings in Public Storage were worth $12,597,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Kiley Juergens Wealth Management LLC purchased a new position in Public Storage in the second quarter worth approximately $142,000. Quad Cities Investment Group LLC purchased a new position in Public Storage in the second quarter worth approximately $151,000. Landaas & Co. WI ADV purchased a new position in Public Storage in the second quarter worth approximately $156,000. Parallel Advisors LLC lifted its stake in Public Storage by 61.7% in the second quarter. Parallel Advisors LLC now owns 765 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 292 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Public Storage in the second quarter worth approximately $199,000. Institutional investors own 81.51% of the company’s stock.
Shares of NYSE:PSA opened at $201.60 on Tuesday. The company has a market cap of $34.71 billion, a PE ratio of 19.71, a P/E/G ratio of 3.84 and a beta of 0.13. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. Public Storage has a twelve month low of $180.48 and a twelve month high of $234.90.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share for the quarter, hitting the consensus estimate of $1.85. The business had revenue of $706.37 million during the quarter, compared to the consensus estimate of $704.51 million. Public Storage had a net margin of 55.38% and a return on equity of 30.87%. During the same quarter in the previous year, the firm earned $1.61 EPS. On average, equities research analysts forecast that Public Storage will post 10.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Wednesday, December 12th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, December 11th. This represents a $8.00 annualized dividend and a dividend yield of 3.97%. Public Storage’s dividend payout ratio is presently 78.20%.
A number of brokerages recently issued reports on PSA. Citigroup decreased their price target on shares of Public Storage from $235.00 to $202.00 and set a “hold” rating for the company in a research note on Friday, October 5th. Goldman Sachs Group downgraded shares of Public Storage from a “neutral” rating to a “sell” rating in a research report on Wednesday, August 22nd. Barclays restated a “hold” rating and set a $208.00 price objective on shares of Public Storage in a research report on Wednesday, August 8th. BMO Capital Markets restated a “sell” rating and set a $194.00 price objective on shares of Public Storage in a research report on Wednesday, August 1st. Finally, Argus boosted their price objective on shares of Public Storage to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Public Storage currently has a consensus rating of “Hold” and a consensus price target of $205.54.
In other news, CEO Ronald L. Havner, Jr. sold 100,000 shares of Public Storage stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $211.54, for a total value of $21,154,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 14.00% of the stock is currently owned by insiders.
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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 June 30, 2018, we had interests in 2,402 self-storage facilities located in 38 states with approximately 160 million net rentable square feet in the United States and 228 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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