Osterweis Capital Management Inc. Raises Holdings in Public Storage (PSA)

Osterweis Capital Management Inc. grew its stake in shares of Public Storage (NYSE:PSA) by 29.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,730 shares of the real estate investment trust’s stock after acquiring an additional 33,265 shares during the period. Public Storage accounts for 2.3% of Osterweis Capital Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Osterweis Capital Management Inc. owned 0.08% of Public Storage worth $30,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Kemper Corp Master Retirement Trust grew its holdings in shares of Public Storage by 15.4% during the 2nd quarter. Kemper Corp Master Retirement Trust now owns 3,370 shares of the real estate investment trust’s stock valued at $703,000 after acquiring an additional 450 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Public Storage by 1,745.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 20,300 shares of the real estate investment trust’s stock valued at $4,233,000 after acquiring an additional 19,200 shares in the last quarter. Gyroscope Capital Management Group LLC grew its holdings in shares of Public Storage by 32.7% during the 2nd quarter. Gyroscope Capital Management Group LLC now owns 1,308 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 322 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of Public Storage by 7.7% during the 2nd quarter. Gotham Asset Management LLC now owns 4,086 shares of the real estate investment trust’s stock valued at $852,000 after acquiring an additional 291 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Public Storage by 24.6% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 109,662 shares of the real estate investment trust’s stock valued at $22,866,000 after acquiring an additional 21,665 shares in the last quarter. Institutional investors and hedge funds own 80.04% of the company’s stock.

Public Storage (NYSE:PSA) traded down 1.34% during midday trading on Tuesday, reaching $214.64. 235,463 shares of the company’s stock were exchanged. Public Storage has a 52 week low of $192.15 and a 52 week high of $232.21. The firm has a 50-day moving average price of $212.26 and a 200 day moving average price of $211.25. The company has a market cap of $37.35 billion, a price-to-earnings ratio of 30.62 and a beta of 0.44.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.54 by ($0.95). Public Storage had a return on equity of 22.31% and a net margin of 53.47%. The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $626.27 million. During the same quarter in the previous year, the company posted $2.40 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts anticipate that Public Storage will post $7.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $8.00 annualized dividend and a yield of 3.68%. Public Storage’s payout ratio is 113.96%.

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In other news, Director Ronald P. Spogli bought 2,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of $200.59 per share, for a total transaction of $401,180.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 14.42% of the company’s stock.

Several research firms have recently commented on PSA. Bank of America Corporation lowered their price target on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a report on Thursday, July 20th. Jefferies Group LLC set a $210.00 price target on shares of Public Storage and gave the company a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. KeyCorp reiterated a “sell” rating and issued a $184.00 price objective on shares of Public Storage in a report on Wednesday, September 13th. Finally, Argus decreased their price objective on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average 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.

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

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