Mutual Advisors LLC reduced its stake in Public Storage (NYSE:PSA) by 49.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,831 shares of the real estate investment trust’s stock after selling 1,772 shares during the quarter. Mutual Advisors LLC’s holdings in Public Storage were worth $449,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. increased its stake in shares of Public Storage by 36.3% during the 2nd quarter. Cohen & Steers Inc. now owns 8,050,898 shares of the real estate investment trust’s stock worth $1,917,482,000 after purchasing an additional 2,142,247 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Public Storage by 31.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,966,418 shares of the real estate investment trust’s stock valued at $944,681,000 after buying an additional 945,431 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Public Storage by 113.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,746,052 shares of the real estate investment trust’s stock valued at $415,858,000 after buying an additional 928,491 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Public Storage by 10.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,980,811 shares of the real estate investment trust’s stock valued at $943,612,000 after buying an additional 388,950 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Public Storage by 18.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,162,760 shares of the real estate investment trust’s stock valued at $515,105,000 after buying an additional 341,718 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors and hedge funds.
NYSE PSA traded down $2.09 during trading on Friday, reaching $212.38. The company’s stock had a trading volume of 13,530 shares, compared to its average volume of 1,023,747. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $37.59 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 5.08 and a beta of 0.07. Public Storage has a 12 month low of $193.89 and a 12 month high of $266.76. The firm has a 50 day moving average price of $239.11 and a 200 day moving average price of $241.84.
Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.03. Public Storage had a net margin of 60.98% and a return on equity of 33.96%. The firm had revenue of $729.33 million during the quarter, compared to the consensus estimate of $732.26 million. During the same quarter in the previous year, the firm posted $1.85 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Public Storage will post 10.76 EPS for the current fiscal year.
In other news, Chairman B Wayne Et Al Hughes sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $263.41, for a total transaction of $52,682,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.00% of the company’s stock.
PSA has been the subject of a number of recent research reports. ValuEngine downgraded shares of Public Storage from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Stifel Nicolaus cut their price objective on shares of Public Storage from $285.00 to $266.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Morgan Stanley raised shares of Public Storage from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $193.00 to $240.00 in a report on Monday, September 16th. SunTrust Banks boosted their price objective on shares of Public Storage from $215.00 to $233.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Finally, Bank of America raised shares of Public Storage from a “neutral” rating to a “buy” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Public Storage presently has an average rating of “Hold” and an average price target of $245.56.
About Public Storage
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.
Read More: High-Yield Dividend Stocks
Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA).
Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.