Orion Portfolio Solutions LLC trimmed its holdings in shares of Public Storage (NYSE:PSA) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,731 shares of the real estate investment trust’s stock after selling 225 shares during the period. Orion Portfolio Solutions LLC’s holdings in Public Storage were worth $811,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PSA. Bank of Montreal Can boosted its stake in Public Storage by 152.7% during the 2nd quarter. Bank of Montreal Can now owns 700,691 shares of the real estate investment trust’s stock valued at $213,374,000 after purchasing an additional 423,407 shares during the last quarter. State Street Corp boosted its stake in Public Storage by 3.3% during the 2nd quarter. State Street Corp now owns 9,915,515 shares of the real estate investment trust’s stock valued at $2,981,496,000 after purchasing an additional 315,655 shares during the last quarter. Amundi purchased a new stake in Public Storage during the 2nd quarter valued at $81,466,000. Morgan Stanley boosted its stake in Public Storage by 21.9% during the 2nd quarter. Morgan Stanley now owns 1,322,010 shares of the real estate investment trust’s stock valued at $397,514,000 after purchasing an additional 237,388 shares during the last quarter. Finally, PGGM Investments boosted its stake in Public Storage by 144.2% during the 3rd quarter. PGGM Investments now owns 396,032 shares of the real estate investment trust’s stock valued at $117,661,000 after purchasing an additional 233,872 shares during the last quarter. Institutional investors and hedge funds own 77.19% of the company’s stock.
Several equities analysts have recently weighed in on PSA shares. Jefferies Financial Group raised Public Storage from a “hold” rating to a “buy” rating and increased their price target for the company from $366.00 to $433.00 in a report on Monday, January 10th. Morgan Stanley raised their target price on Public Storage from $322.00 to $333.00 and gave the stock an “equal weight” rating in a report on Monday, November 29th. Evercore ISI reissued a “hold” rating and set a $346.00 price target on shares of Public Storage in a report on Friday, October 22nd. JPMorgan Chase & Co. upgraded Public Storage from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $359.00 to $385.00 in a research report on Monday, December 20th. Finally, Raymond James upgraded Public Storage from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $350.00 to $375.00 in a research report on Thursday, December 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Buy” and an average price target of $344.36.
Shares of NYSE PSA opened at $361.79 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.02 and a quick ratio of 2.02. The company has a market cap of $63.44 billion, a P/E ratio of 43.22, a PEG ratio of 3.08 and a beta of 0.22. Public Storage has a 1 year low of $218.58 and a 1 year high of $377.36. The firm has a 50-day simple moving average of $348.41 and a two-hundred day simple moving average of $326.55.
Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, November 1st. The real estate investment trust reported $2.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.23 by ($0.71). The firm had revenue of $716.05 million during the quarter, compared to the consensus estimate of $858.76 million. Public Storage had a return on equity of 34.52% and a net margin of 52.00%. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.63 EPS. As a group, equities research analysts expect that Public Storage will post 12.8 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 30th. Stockholders of record on Wednesday, December 15th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, December 14th. Public Storage’s dividend payout ratio is presently 95.58%.
Public Storage Company Profile
Public Storage operates as a real estate investment trust. The firm engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, Investment in PS Business Parks and Investment in Shurgard. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.
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