Public Storage $PSA Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its position in shares of Public Storage (NYSE:PSA) by 29.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,382 shares of the real estate investment trust’s stock after buying an additional 1,689 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Public Storage were worth $2,000,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PSA. V Square Quantitative Management LLC grew its holdings in Public Storage by 2.2% during the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock worth $419,000 after acquiring an additional 34 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of Public Storage by 2.6% in the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 36 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares during the last quarter. Raiffeisen Bank International AG lifted its position in shares of Public Storage by 35.2% during the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its position in shares of Public Storage by 0.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust’s stock worth $1,451,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider owned 1,414 shares of the company’s stock, valued at $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. The Goldman Sachs Group restated a “buy” rating and issued a $341.00 price target on shares of Public Storage in a research note on Wednesday, April 29th. Jefferies Financial Group increased their price objective on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Evercore set a $316.00 target price on Public Storage in a research report on Monday, July 6th. Raymond James Financial assumed coverage on shares of Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating on the stock. Finally, Barclays reissued an “equal weight” rating and set a $349.00 price objective on shares of Public Storage in a report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and an average target price of $325.37.

Public Storage Stock Performance

Shares of PSA stock opened at $331.02 on Wednesday. The stock’s 50-day moving average is $316.58 and its two-hundred day moving average is $300.98. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.05. The firm has a market cap of $58.11 billion, a price-to-earnings ratio of 34.16, a PEG ratio of 4.36 and a beta of 0.96.

Public Storage (NYSE:PSA) last posted its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $4.12 EPS. Analysts predict that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is currently 123.84%.

Public Storage Company Profile

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.