Public Storage (NYSE:PSA) Holdings Boosted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its position in shares of Public Storage (NYSE:PSA) by 8.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,056 shares of the real estate investment trust’s stock after purchasing an additional 246 shares during the period. Janney Montgomery Scott LLC’s holdings in Public Storage were worth $750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cohen & Steers Inc. boosted its stake in shares of Public Storage by 36.3% during the 2nd quarter. Cohen & Steers Inc. now owns 8,050,898 shares of the real estate investment trust’s stock valued at $1,917,482,000 after buying an additional 2,142,247 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Public Storage by 10.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,980,811 shares of the real estate investment trust’s stock valued at $943,612,000 after buying an additional 388,950 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Public Storage by 31.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,966,418 shares of the real estate investment trust’s stock valued at $944,681,000 after buying an additional 945,431 shares during the period. Northern Trust Corp boosted its stake in shares of Public Storage by 1.8% during the 2nd quarter. Northern Trust Corp now owns 2,337,815 shares of the real estate investment trust’s stock valued at $556,799,000 after buying an additional 41,965 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Public Storage by 18.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,162,760 shares of the real estate investment trust’s stock valued at $515,105,000 after buying an additional 341,718 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Evercore ISI lowered shares of Public Storage from an “in-line” rating to an “underperform” rating and reduced their price objective for the company from $246.00 to $228.00 in a research note on Tuesday, October 1st. Argus lifted their price objective on shares of Public Storage to $290.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. They noted that the move was a valuation call. SunTrust Banks lifted their price objective on shares of Public Storage from $215.00 to $233.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Barclays set a $256.00 price objective on shares of Public Storage and gave the company a “sell” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus reduced their price objective on shares of Public Storage from $285.00 to $266.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Public Storage has a consensus rating of “Hold” and an average target price of $245.56.

In related news, Chairman B Wayne Et Al Hughes sold 200,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $263.41, for a total value of $52,682,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 14.00% of the company’s stock.

Shares of NYSE:PSA traded up $0.37 on Tuesday, hitting $211.84. 22,429 shares of the company were exchanged, compared to its average volume of 1,100,522. The company’s 50 day moving average price is $236.81 and its two-hundred day moving average price is $241.76. Public Storage has a one year low of $193.89 and a one year high of $266.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $36.92 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 4.99 and a beta of 0.07.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. The company had revenue of $729.33 million for the quarter, compared to the consensus estimate of $732.26 million. Public Storage had a net margin of 60.98% and a return on equity of 33.96%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 EPS. Research analysts predict that Public Storage will post 10.76 earnings per share for the current year.

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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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