Public Employees Retirement Association of Colorado lowered its position in Public Storage (NYSE:PSA) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,275 shares of the real estate investment trust’s stock after selling 1,525 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Public Storage were worth $5,466,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI boosted its holdings in Public Storage by 48.2% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 7,286 shares of the real estate investment trust’s stock valued at $1,460,000 after acquiring an additional 2,370 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Public Storage by 7.3% in the first quarter. Dynamic Advisor Solutions LLC now owns 9,941 shares of the real estate investment trust’s stock valued at $1,993,000 after acquiring an additional 678 shares during the last quarter. NuWave Investment Management LLC boosted its holdings in Public Storage by 1,693.9% in the first quarter. NuWave Investment Management LLC now owns 592 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 559 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Public Storage by 1.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,620 shares of the real estate investment trust’s stock valued at $9,543,000 after acquiring an additional 559 shares during the last quarter. Finally, Fulton Bank N.A. boosted its holdings in Public Storage by 11.2% in the first quarter. Fulton Bank N.A. now owns 7,798 shares of the real estate investment trust’s stock valued at $1,563,000 after acquiring an additional 788 shares during the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.
In other news, SVP Lily Yan Hughes sold 443 shares of Public Storage stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $194.53, for a total transaction of $86,176.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.00% of the stock is currently owned by insiders.
A number of research analysts recently weighed in on PSA shares. BMO Capital Markets set a $185.00 target price on Public Storage and gave the company a “sell” rating in a report on Tuesday, February 20th. Bank of America upgraded Public Storage from an “underperform” rating to a “neutral” rating and set a $212.00 target price on the stock in a report on Tuesday, February 27th. Jefferies Group reiterated a “neutral” rating on shares of Public Storage in a report on Thursday, April 26th. Zacks Investment Research cut Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Finally, Cantor Fitzgerald set a $213.00 target price on Public Storage and gave the company a “hold” rating in a report on Monday, March 12th. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $204.60.
Shares of PSA opened at $209.98 on Tuesday. The stock has a market cap of $36.13 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 4.10 and a beta of 0.27. Public Storage has a 12 month low of $180.48 and a 12 month high of $219.93.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $1.65 EPS for the quarter, missing the Zacks’ consensus estimate of $1.67 by ($0.02). The company had revenue of $669.90 million for the quarter, compared to analyst estimates of $598.28 million. Public Storage had a return on equity of 27.68% and a net margin of 50.72%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.37 EPS. sell-side analysts expect that Public Storage will post 10.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Wednesday, June 13th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Tuesday, June 12th. Public Storage’s payout ratio is 78.20%.
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. The Company's headquarters are located in Glendale, California. At December 31, 2017, we had interests in 2,386 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 222 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.
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