Aperio Group LLC lowered its position in shares of Public Storage (NYSE:PSA) by 36.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,284 shares of the real estate investment trust’s stock after selling 37,379 shares during the period. Aperio Group LLC’s holdings in Public Storage were worth $13,822,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in Public Storage by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the real estate investment trust’s stock worth $1,939,000 after buying an additional 100 shares during the period. LS Investment Advisors LLC boosted its stake in Public Storage by 3.0% in the second quarter. LS Investment Advisors LLC now owns 4,963 shares of the real estate investment trust’s stock worth $1,035,000 after buying an additional 145 shares during the period. Concorde Asset Management LLC boosted its stake in Public Storage by 0.3% in the second quarter. Concorde Asset Management LLC now owns 2,511 shares of the real estate investment trust’s stock worth $523,000 after buying an additional 8 shares during the period. B & T Capital Management DBA Alpha Capital Management purchased a new stake in Public Storage during the second quarter worth approximately $1,842,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in Public Storage by 2.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 35,951 shares of the real estate investment trust’s stock worth $7,497,000 after buying an additional 800 shares during the period. Institutional investors own 79.54% of the company’s stock.
Public Storage (NYSE PSA) traded up 0.68% during trading on Friday, hitting $208.94. The stock had a trading volume of 439,521 shares. The company has a market cap of $36.32 billion, a price-to-earnings ratio of 29.68 and a beta of 0.41. The firm’s 50-day moving average price is $209.22 and its 200-day moving average price is $217.16. Public Storage has a 52-week low of $200.65 and a 52-week high of $255.21.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $2.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.42 by $0.05. The company had revenue of $645.55 million for the quarter, compared to analysts’ expectations of $615.23 million. Public Storage had a net margin of 54.13% and a return on equity of 27.74%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.21 EPS. Analysts predict that Public Storage will post $7.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Wednesday, June 14th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, June 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.83%. Public Storage’s payout ratio is currently 113.64%.
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A number of analysts recently commented on the company. Bank of America Corporation reduced their price objective on Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays PLC reduced their price objective on Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a research report on Tuesday. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and set a $222.00 price objective on shares of Public Storage in a research report on Friday, July 14th. Finally, BidaskClub upgraded Public Storage from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $224.67.
In other Public Storage news, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $207.11, for a total transaction of $12,426,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 14.42% of the company’s stock.
Public Storage Company Profile
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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