Wealthfront Advisers LLC lifted its position in Public Storage (NYSE:PSA) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,506 shares of the real estate investment trust’s stock after purchasing an additional 98 shares during the quarter. Wealthfront Advisers LLC’s holdings in Public Storage were worth $2,070,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in PSA. Mid Atlantic Financial Management Inc. ADV boosted its holdings in Public Storage by 28.4% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 1,596 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 353 shares in the last quarter. Shell Asset Management Co. lifted its holdings in shares of Public Storage by 0.4% during the first quarter. Shell Asset Management Co. now owns 65,369 shares of the real estate investment trust’s stock worth $14,236,000 after purchasing an additional 277 shares during the period. BlackRock Inc. lifted its holdings in shares of Public Storage by 2.0% during the fourth quarter. BlackRock Inc. now owns 15,991,641 shares of the real estate investment trust’s stock worth $3,236,867,000 after purchasing an additional 317,340 shares during the period. Burke & Herbert Bank & Trust Co. lifted its holdings in shares of Public Storage by 3.5% during the first quarter. Burke & Herbert Bank & Trust Co. now owns 1,361 shares of the real estate investment trust’s stock worth $296,000 after purchasing an additional 46 shares during the period. Finally, Virtu Financial LLC lifted its holdings in shares of Public Storage by 419.1% during the first quarter. Virtu Financial LLC now owns 18,900 shares of the real estate investment trust’s stock worth $4,116,000 after purchasing an additional 15,259 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.
Shares of Public Storage stock traded up $1.03 during trading hours on Wednesday, hitting $241.88. The company’s stock had a trading volume of 233,696 shares, compared to its average volume of 858,038. Public Storage has a twelve month low of $193.89 and a twelve month high of $247.63. The firm has a market cap of $42.79 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 5.72 and a beta of 0.18. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28.
Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $1.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by ($0.79). Public Storage had a net margin of 62.54% and a return on equity of 34.73%. The business had revenue of $689.00 million during the quarter, compared to analyst estimates of $685.75 million. During the same period last year, the company earned $2.48 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts expect that Public Storage will post 10.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Tuesday, June 11th. Public Storage’s dividend payout ratio (DPR) is presently 75.76%.
A number of equities research analysts recently commented on the company. KeyCorp raised Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 target price for the company in a report on Tuesday. ValuEngine raised Public Storage from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. Barclays reissued a “sell” rating and issued a $218.00 price target on shares of Public Storage in a report on Tuesday, April 16th. Argus boosted their price target on Public Storage to $240.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, Jefferies Financial Group upgraded Public Storage from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $181.00 to $201.00 in a research report on Tuesday, April 9th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $215.41.
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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. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.
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