J. Safra Sarasin Holding AG Lowers Stock Holdings in Public Storage $PSA

J. Safra Sarasin Holding AG reduced its position in Public Storage (NYSE:PSA) by 50.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,959 shares of the real estate investment trust’s stock after selling 3,021 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Public Storage were worth $855,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Stonegate Investment Group LLC boosted its stake in Public Storage by 21.1% in the third quarter. Stonegate Investment Group LLC now owns 2,031 shares of the real estate investment trust’s stock worth $587,000 after buying an additional 354 shares in the last quarter. Triton Financial Group Inc lifted its holdings in shares of Public Storage by 13.9% in the 3rd quarter. Triton Financial Group Inc now owns 2,239 shares of the real estate investment trust’s stock worth $647,000 after acquiring an additional 274 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Public Storage by 5.6% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,626 shares of the real estate investment trust’s stock worth $4,803,000 after acquiring an additional 888 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Public Storage by 4.1% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 34,865 shares of the real estate investment trust’s stock valued at $10,071,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of Public Storage by 21.4% during the 3rd quarter. Whittier Trust Co. now owns 3,497 shares of the real estate investment trust’s stock valued at $1,027,000 after purchasing an additional 616 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Down 1.4%

NYSE PSA opened at $273.84 on Thursday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week 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 stock has a 50 day simple moving average of $272.04 and a two-hundred day simple moving average of $282.08. The stock has a market cap of $48.05 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 7.20 and a beta of 1.01.

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $301.00 target price (down previously from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. The Goldman Sachs Group lowered their price objective on Public Storage from $332.00 to $321.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Finally, Evercore ISI dropped their price objective on Public Storage from $309.00 to $305.00 in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $313.19.

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.