Macquarie Group Ltd. trimmed its holdings in shares of Public Storage (NYSE:PSA) by 2.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,774 shares of the real estate investment trust’s stock after selling 4,723 shares during the period. Macquarie Group Ltd. owned 0.09% of Public Storage worth $34,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Public Storage by 2,552.4% in the 1st quarter. BlackRock Inc. now owns 14,167,308 shares of the real estate investment trust’s stock valued at $3,101,367,000 after purchasing an additional 13,633,185 shares during the last quarter. Capital World Investors lifted its holdings in shares of Public Storage by 93.3% in the 2nd quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock valued at $841,627,000 after purchasing an additional 1,948,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Public Storage by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock valued at $4,599,567,000 after purchasing an additional 727,573 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Public Storage by 87.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,477,786 shares of the real estate investment trust’s stock valued at $323,502,000 after purchasing an additional 688,042 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Public Storage by 3,791.5% in the 2nd quarter. Epoch Investment Partners Inc. now owns 641,789 shares of the real estate investment trust’s stock valued at $133,832,000 after purchasing an additional 625,297 shares during the last quarter. 80.04% of the stock is owned by institutional investors.
Several research firms have commented on PSA. Jefferies Group LLC set a $210.00 price objective on Public Storage and gave the company a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research downgraded Public Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. BidaskClub downgraded Public Storage from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Argus reduced their price objective on Public Storage from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, August 1st. Finally, Bank of America Corporation dropped their target price on Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a research report on Thursday, July 20th. 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 company. Public Storage currently has an average rating of “Hold” and a consensus target price of $214.91.
Shares of Public Storage (PSA) traded down 0.29% on Wednesday, hitting $215.26. The company’s stock had a trading volume of 18,789 shares. The stock’s 50 day moving average is $212.26 and its 200-day moving average is $211.25. The company has a market cap of $37.46 billion, a price-to-earnings ratio of 30.71 and a beta of 0.44. Public Storage has a 52 week low of $192.15 and a 52 week high of $232.21.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.54 by ($0.95). Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $626.27 million. During the same period in the prior year, the company earned $2.40 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that Public Storage will post $7.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Tuesday, September 12th. Public Storage’s dividend payout ratio is 113.96%.
In other Public Storage news, Director Ronald P. Spogli bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.42% of the stock is owned by corporate insiders.
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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