Sullivan Bruyette Speros & Blaney LLC purchased a new position in shares of Public Storage (NYSE:PSA) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 927 shares of the real estate investment trust’s stock, valued at approximately $202,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Sage Capital Advisors llc bought a new position in Public Storage during the 4th quarter worth $29,000. Oregon Public Employees Retirement Fund increased its stake in Public Storage by 18,823.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,180,090 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 7,142,148 shares during the period. Liberty Wealth Management LLC bought a new position in Public Storage during the 4th quarter worth $37,000. CNB Bank bought a new position in shares of Public Storage in the 4th quarter valued at $42,000. Finally, Cornerstone Advisors Inc. increased its stake in shares of Public Storage by 42.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 60 shares during the last quarter. 81.14% of the stock is owned by institutional investors and hedge funds.
Shares of PSA traded up $1.21 during midday trading on Wednesday, hitting $232.14. The company’s stock had a trading volume of 3,492 shares, compared to its average volume of 867,945. Public Storage has a one year low of $193.89 and a one year high of $234.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $40.27 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 5.37 and a beta of 0.26.
Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $1.73 earnings per share (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 the consensus estimate of $685.75 million. During the same quarter in the previous year, the business posted $2.48 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts forecast that Public Storage will post 10.7 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, June 11th. Public Storage’s dividend payout ratio (DPR) is 75.76%.
Several brokerages have recently issued reports on PSA. Barclays reiterated a “sell” rating and issued a $218.00 price target on shares of Public Storage in a research note on Tuesday, April 16th. Zacks Investment Research lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Argus lifted their price target on Public Storage to $240.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Jefferies Financial Group upgraded Public Storage from an “underperform” rating to a “hold” rating and lifted their price target for the company from $181.00 to $201.00 in a research note on Tuesday, April 9th. Finally, Bank of America set a $230.00 price target on Public Storage and gave the company a “hold” rating in a research note on Friday, March 1st. Five analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $211.88.
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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. 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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