Delta Lloyd Asset Management N.V. bought a new stake in Public Storage (NYSE:PSA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 112,553 shares of the real estate investment trust’s stock, valued at approximately $23,471,000. Delta Lloyd Asset Management N.V. owned approximately 0.06% of Public Storage at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Israel Discount Bank of New York acquired a new stake in shares of Public Storage in the 1st quarter worth $100,000. Bessemer Group Inc. purchased a new position in shares of Public Storage in the 2nd quarter valued at about $105,000. CENTRAL TRUST Co increased its holdings in shares of Public Storage by 41.3% in the 2nd quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 169 shares in the last quarter. Guardian Life Insurance Co. of America increased its holdings in shares of Public Storage by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 5 shares in the last quarter. Finally, Sandy Spring Bank increased its holdings in shares of Public Storage by 4.1% in the 1st quarter. Sandy Spring Bank now owns 640 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.
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Shares of Public Storage (NYSE:PSA) traded up 0.75% during mid-day trading on Friday, hitting $214.15. 1,032,132 shares of the company were exchanged. The stock has a market cap of $37.26 billion, a PE ratio of 30.55 and a beta of 0.42. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21. The stock’s 50-day moving average price is $204.54 and its 200 day moving average price is $212.77.
Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.95). The firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $626.27 million. Public Storage had a return on equity of 27.80% and a net margin of 53.35%. Public Storage’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.40 EPS. On average, equities analysts anticipate that Public Storage will post $7.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.74%. Public Storage’s payout ratio is 113.96%.
In related news, Director Ronald P. Spogli purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 14.42% of the company’s stock.
Several research firms have weighed in on PSA. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Group LLC set a $210.00 target price on shares of Public Storage and gave the company a “hold” rating in a report on Thursday, August 17th. Bank of America Corporation lowered their price target on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a report on Thursday, July 20th. BidaskClub upgraded shares of Public Storage from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Finally, Cantor Fitzgerald lowered their price target on shares of Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a report on Monday, May 22nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Public Storage has a consensus rating of “Hold” and a consensus price target of $214.91.
About Public Storage
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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