Knights of Columbus Asset Advisors LLC Lowers Stake in Public Storage $PSA

Knights of Columbus Asset Advisors LLC trimmed its stake in Public Storage (NYSE:PSA) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,847 shares of the real estate investment trust’s stock after selling 3,101 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Public Storage were worth $4,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Public Storage in the 2nd quarter valued at about $1,153,971,000. AQR Capital Management LLC lifted its holdings in Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after buying an additional 481,872 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Public Storage in the 2nd quarter valued at $94,297,000. 1832 Asset Management L.P. raised its position in shares of Public Storage by 375.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 389,169 shares of the real estate investment trust’s stock worth $114,190,000 after acquiring an additional 307,357 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Public Storage by 1,158.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 153,878 shares of the real estate investment trust’s stock worth $45,151,000 after purchasing an additional 141,651 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Performance

Shares of NYSE PSA opened at $277.19 on Friday. The company has a 50 day simple moving average of $272.27 and a two-hundred day simple moving average of $282.05. The stock has a market cap of $48.64 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 7.13 and a beta of 1.01. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. Public Storage has a 12 month low of $256.54 and a 12 month high of $322.49.

Public Storage (NYSE:PSA) last issued its earnings results 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. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $4.20 earnings per share. As a group, analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PSA has been the subject of several analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $301.00 price target (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Wells Fargo & Company raised their target price on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. BNP Paribas Exane lowered their price objective on Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Morgan Stanley started coverage on Public Storage in a research note on Friday, December 5th. They set an “equal weight” rating and a $290.00 price target on the stock. Finally, BMO Capital Markets cut their price objective on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus target price of $313.19.

Public Storage Company Profile

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.