First Nebraska Trust Co Buys New Stake in Public Storage $PSA

First Nebraska Trust Co purchased a new position in shares of Public Storage (NYSE:PSA) during the 3rd quarter, HoldingsChannel reports. The firm purchased 10,747 shares of the real estate investment trust’s stock, valued at approximately $3,039,000.

Several other hedge funds also recently modified their holdings of PSA. BlackRock Inc. bought a new position in shares of Public Storage during the 2nd quarter valued at $5,495,077,000. Dimensional Fund Advisors LP boosted its holdings in Public Storage by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,280,540 shares of the real estate investment trust’s stock worth $617,720,000 after purchasing an additional 67,787 shares in the last quarter. Legal & General Group Plc bought a new stake in Public Storage in the second quarter worth $601,650,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Public Storage in the second quarter worth $558,904,000. Finally, Deutsche Bank AG bought a new stake in Public Storage in the second quarter worth $400,776,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Down 0.1%

Shares of PSA stock opened at $333.06 on Wednesday. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The company has a market cap of $62.23 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 4.96 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average is $299.22 and its two-hundred day moving average is $303.28.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm posted $4.31 earnings per share. Public Storage’s quarterly revenue was up .5% compared to the same quarter last year. Equities analysts predict that Public Storage will post 16.97 EPS for the current year.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.10% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the topic of several analyst reports. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a report on Saturday. Raymond James Financial started coverage on Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating for the company. Mizuho boosted their price target on Public Storage from $316.00 to $319.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Scotiabank decreased their price target on Public Storage from $346.00 to $343.00 and set a “sector outperform” rating for the company in a research note on Wednesday, September 2nd. Finally, Barclays upped their price target on Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 10th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned 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 price target of $323.68.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.