American Assets Investment Management LLC Buys Shares of 10,000 Public Storage (PSA)

American Assets Investment Management LLC bought a new position in shares of Public Storage (NYSE:PSA) during the second quarter, Holdings Channel reports. The firm bought 10,000 shares of the real estate investment trust’s stock, valued at approximately $2,085,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Alpha Windward LLC raised its position in Public Storage by 1.3% in the first quarter. Alpha Windward LLC now owns 926 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 12 shares in the last quarter. Capital Investment Advisors LLC bought a new position in Public Storage during the first quarter worth $1,369,000. Mascoma Wealth Management LLC raised its position in Public Storage by 128.0% in the first quarter. Mascoma Wealth Management LLC now owns 456 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 256 shares in the last quarter. SFE Investment Counsel bought a new position in Public Storage during the first quarter worth $584,000. Finally, DnB Asset Management AS raised its position in Public Storage by 12.2% in the first quarter. DnB Asset Management AS now owns 15,589 shares of the real estate investment trust’s stock worth $3,413,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 78.47% of the company’s stock.

Shares of Public Storage (NYSE:PSA) opened at 200.75 on Wednesday. The stock has a market capitalization of $34.93 billion, a P/E ratio of 28.64 and a beta of 0.41. Public Storage has a 52-week low of $192.15 and a 52-week high of $233.39. The firm has a 50-day moving average price of $205.09 and a 200-day moving average price of $214.86.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the consensus estimate of $2.54 by $0.95. The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. Public Storage’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 earnings per share. On average, analysts predict that Public Storage will post $7.09 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $2.00 per share. The ex-dividend date is Tuesday, September 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.97%. Public Storage’s payout ratio is 113.96%.

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A number of research analysts have recently weighed in on PSA shares. Barclays PLC raised their target price on Public Storage from $222.00 to $224.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Zacks Investment Research downgraded Public Storage from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. Cantor Fitzgerald decreased their price target on Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a research report on Monday, May 22nd. BidaskClub raised Public Storage from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $222.00 price target on shares of Public Storage in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $221.64.

In related news, Director Ronald P. Spogli acquired 2,000 shares of Public Storage stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $200.59 per share, for a total transaction of $401,180.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider John Reyes sold 60,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $207.11, for a total value of $12,426,600.00. The disclosure for this sale can be found here. 14.42% of the stock is owned by corporate insiders.

About Public Storage

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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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