Alera Investment Advisors LLC reduced its stake in shares of Public Storage (NYSE:PSA) by 39.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 273 shares of the real estate investment trust’s stock after selling 178 shares during the period. Alera Investment Advisors LLC’s holdings in Public Storage were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of PSA. Burke & Herbert Bank & Trust Co. raised its stake in Public Storage by 3.5% during the 1st quarter. Burke & Herbert Bank & Trust Co. now owns 1,361 shares of the real estate investment trust’s stock valued at $296,000 after purchasing an additional 46 shares during the period. Trust Co. of Vermont raised its stake in Public Storage by 4.5% during the 1st quarter. Trust Co. of Vermont now owns 1,091 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 47 shares during the period. Legacy Capital Partners Inc. raised its stake in Public Storage by 2.4% during the 1st quarter. Legacy Capital Partners Inc. now owns 2,165 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 50 shares during the period. Asset Planning Services Inc. LA ADV raised its stake in Public Storage by 0.3% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,922 shares of the real estate investment trust’s stock valued at $4,121,000 after purchasing an additional 50 shares during the period. Finally, Cetera Advisors LLC raised its stake in Public Storage by 2.0% during the 4th quarter. Cetera Advisors LLC now owns 2,645 shares of the real estate investment trust’s stock valued at $534,000 after purchasing an additional 52 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PSA opened at $240.85 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.58 and a current ratio of 0.58. Public Storage has a 1 year low of $193.89 and a 1 year high of $247.63. The company has a market capitalization of $42.79 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 5.72 and a beta of 0.18.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.52 by ($0.79). Public Storage had a return on equity of 34.73% and a net margin of 62.54%. The firm had revenue of $689.00 million during the quarter, compared to the consensus estimate of $685.75 million. During the same period in the previous year, the firm earned $2.48 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Public Storage will post 10.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, June 11th. Public Storage’s payout ratio is 75.76%.
Several analysts recently issued reports on PSA shares. ValuEngine raised Public Storage from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Argus lifted their target price on Public Storage to $240.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Barclays reissued a “hold” rating and set a $215.00 target price on shares of Public Storage in a research note on Thursday, March 7th. Bank of America set a $230.00 price objective on Public Storage and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Five analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Public Storage currently has an average rating of “Hold” and a consensus price target of $215.41.
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Public Storage Profile
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the ?Shurgard? brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.
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