Public Storage $PSA Stock Acquired by XML Financial LLC

XML Financial LLC raised its stake in shares of Public Storage (NYSE:PSA) by 71.0% during the 3rd quarter, Holdings Channel reports. The fund owned 6,792 shares of the real estate investment trust’s stock after purchasing an additional 2,821 shares during the period. XML Financial LLC’s holdings in Public Storage were worth $1,921,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hsbc Holdings PLC purchased a new position in Public Storage in the second quarter valued at about $195,808,000. Nykredit A S purchased a new stake in shares of Public Storage during the second quarter valued at about $17,378,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of Public Storage by 15.6% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 26,610 shares of the real estate investment trust’s stock valued at $8,470,000 after buying an additional 3,588 shares during the last quarter. Greenland Capital Management LP lifted its position in shares of Public Storage by 300.0% during the second quarter. Greenland Capital Management LP now owns 6,600 shares of the real estate investment trust’s stock valued at $2,101,000 after buying an additional 4,950 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Public Storage by 25.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 16,577 shares of the real estate investment trust’s stock valued at $5,277,000 after buying an additional 3,343 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Trading Down 0.1%

Shares of Public Storage stock opened at $333.06 on Wednesday. The firm’s 50 day simple moving average is $299.22 and its two-hundred day simple moving average is $303.28. The firm has a market capitalization of $62.23 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 4.96 and a beta of 0.89. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing the consensus estimate of $2.49 by ($0.80). Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm posted $4.31 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Analysts predict that Public Storage will post 16.97 EPS for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Tuesday, December 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, December 15th. Public Storage’s dividend payout ratio (DPR) is presently 125.65%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the SEC, which is available at this link. 11.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Truist Financial assumed coverage on shares of Public Storage in a research note on Friday, October 2nd. They issued a “buy” rating and a $317.00 target price for the company. Barclays upped their price target on Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 10th. Raymond James Financial initiated coverage on Public Storage in a report on Thursday, July 16th. They set a “market perform” rating for the company. Evercore set a $308.00 price objective on Public Storage in a research report on Monday, September 21st. Finally, Royal Bank Of Canada boosted their target price on Public Storage from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 28th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $323.68.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.