Amalgamated Bank raised its stake in Public Storage (NYSE:PSA) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,698 shares of the real estate investment trust’s stock after acquiring an additional 2,125 shares during the period. Amalgamated Bank’s holdings in Public Storage were worth $4,348,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of PSA. JPMorgan Chase & Co. increased its holdings in shares of Public Storage by 14.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,962,477 shares of the real estate investment trust’s stock worth $794,040,000 after buying an additional 507,928 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Public Storage by 17,529.9% in the 1st quarter. Summit Trail Advisors LLC now owns 434,400 shares of the real estate investment trust’s stock worth $434,000 after buying an additional 431,936 shares during the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of Public Storage by 32.2% in the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,677,943 shares of the real estate investment trust’s stock worth $350,690,000 after buying an additional 408,263 shares during the last quarter. Centersquare Investment Management LLC bought a new stake in shares of Public Storage in the 1st quarter worth about $77,614,000. Finally, American Century Companies Inc. increased its holdings in shares of Public Storage by 364.5% in the 1st quarter. American Century Companies Inc. now owns 436,053 shares of the real estate investment trust’s stock worth $87,381,000 after buying an additional 342,176 shares during the last quarter. Hedge funds and other institutional investors own 81.20% of the company’s stock.
A number of equities analysts recently commented on the stock. ValuEngine cut shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Friday, May 18th. Barclays reaffirmed a “hold” rating and set a $203.00 price target on shares of Public Storage in a research note on Tuesday, April 17th. Morgan Stanley dropped their price target on shares of Public Storage from $199.00 to $193.00 and set an “underweight” rating for the company in a research note on Thursday, June 14th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Public Storage in a research note on Thursday, April 26th. Finally, KeyCorp set a $179.00 price target on shares of Public Storage and gave the stock a “sell” rating in a research note on Thursday, March 15th. Seven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $204.20.
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 analysts’ expectations of $598.28 million. During the same period last year, the firm earned $2.37 earnings per share. Public Storage’s quarterly revenue was up 3.8% on a year-over-year basis. equities research analysts anticipate that Public Storage will post 10.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Wednesday, June 13th will be given a $2.00 dividend. 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 payout ratio is presently 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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