New York State Common Retirement Fund Cuts Holdings in Public Storage $PSA

New York State Common Retirement Fund lowered its position in Public Storage (NYSE:PSA) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,309 shares of the real estate investment trust’s stock after selling 13,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Public Storage were worth $55,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSA. Rosenberg Matthew Hamilton raised its holdings in shares of Public Storage by 9.5% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 36 shares during the period. Patrick M Sweeney & Associates Inc. increased its position in Public Storage by 3.5% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after purchasing an additional 36 shares in the last quarter. CoreCap Advisors LLC raised its holdings in Public Storage by 7.0% in the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 37 shares during the period. Evermay Wealth Management LLC raised its holdings in Public Storage by 13.3% in the second quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock valued at $95,000 after buying an additional 38 shares during the period. Finally, KCM Investment Advisors LLC lifted its position in Public Storage by 2.9% during the second quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock valued at $396,000 after buying an additional 38 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSA has been the subject of several recent research reports. Wolfe Research lowered shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday. BNP Paribas Exane lowered their price target on Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. The Goldman Sachs Group cut their price objective on Public Storage from $332.00 to $321.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft downgraded Public Storage from a “buy” rating to a “hold” rating and set a $285.00 target price for the company. in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company raised their target price on Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $313.19.

Public Storage Trading Up 1.2%

NYSE:PSA opened at $277.19 on Friday. The stock has a market cap of $48.64 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 7.13 and a beta of 1.01. Public Storage has a one year low of $256.54 and a one year high of $322.49. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45. The business’s 50-day simple moving average is $272.27 and its 200 day simple moving average is $282.05.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.07. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the business earned $4.20 EPS. Public Storage’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.