Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Public Storage (NYSE:PSA) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,966 shares of the real estate investment trust’s stock after buying an additional 110 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Public Storage were worth $468,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in PSA. Geode Capital Management LLC lifted its holdings in shares of Public Storage by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock valued at $497,192,000 after purchasing an additional 178,705 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Public Storage in the fourth quarter valued at approximately $230,000. Truvestments Capital LLC bought a new position in shares of Public Storage in the first quarter valued at approximately $48,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Public Storage in the first quarter valued at approximately $408,000. Finally, Retirement Systems of Alabama lifted its holdings in shares of Public Storage by 1.1% in the first quarter. Retirement Systems of Alabama now owns 69,879 shares of the real estate investment trust’s stock valued at $15,218,000 after purchasing an additional 777 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.
A number of research analysts have recently weighed in on the company. ValuEngine upgraded Public Storage from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. Barclays restated a “sell” rating and issued a $218.00 target price on shares of Public Storage in a report on Tuesday, April 16th. Bank of America upgraded Public Storage from a “neutral” rating to a “buy” rating in a report on Friday, July 19th. Finally, KeyCorp upgraded Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 target price on the stock in a report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Public Storage has an average rating of “Hold” and an average target price of $222.45.
In related news, Chairman B Wayne Et Al Hughes sold 40,000 shares of Public Storage stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.10, for a total transaction of $10,244,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 14.00% of the company’s stock.
Public Storage stock traded up $0.21 during mid-day trading on Wednesday, reaching $258.49. 19,490 shares of the company’s stock were exchanged, compared to its average volume of 839,988. The business has a fifty day simple moving average of $246.14. The company has a market capitalization of $45.15 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 6.07 and a beta of 0.17. Public Storage has a one year low of $193.89 and a one year high of $259.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.88 and a quick ratio of 0.88.
Public Storage (NYSE:PSA) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, missing the Zacks’ consensus estimate of $2.63 by ($0.87). The business had revenue of $710.95 million for the quarter, compared to the consensus estimate of $702.70 million. Public Storage had a return on equity of 33.78% and a net margin of 60.77%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 earnings per share. As a group, equities research analysts anticipate that Public Storage will post 10.73 earnings per share for the current year.
Public Storage Company 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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