Dupont Capital Management Corp Has $6.82 Million Position in Public Storage (PSA)
Dupont Capital Management Corp increased its position in shares of Public Storage (NYSE:PSA) by 19.8% during the second quarter, Holdings Channel reports. The institutional investor owned 32,724 shares of the real estate investment trust’s stock after buying an additional 5,408 shares during the period. Dupont Capital Management Corp’s holdings in Public Storage were worth $6,824,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hanson McClain Inc. increased its position in shares of Public Storage by 0.3% in the first quarter. Hanson McClain Inc. now owns 685 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 2 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Public Storage by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 5 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Public Storage by 0.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,668 shares of the real estate investment trust’s stock worth $348,000 after buying an additional 5 shares in the last quarter. Concorde Asset Management LLC increased its position in shares of 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 in the last quarter. Finally, First Hawaiian Bank increased its position in shares of Public Storage by 0.5% in the second quarter. First Hawaiian Bank now owns 1,765 shares of the real estate investment trust’s stock worth $369,000 after buying an additional 9 shares in the last quarter. Institutional investors and hedge funds own 78.47% of the company’s stock.
Public Storage (NYSE:PSA) opened at 200.54 on Tuesday. The stock has a market capitalization of $34.89 billion, a P/E ratio of 28.61 and a beta of 0.41. The company’s 50-day moving average price is $205.40 and its 200 day moving average price is $214.97. Public Storage has a 52 week low of $192.15 and a 52 week high of $233.39.
Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS for the quarter, missing the consensus estimate of $2.54 by $0.95. The business had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $2.40 EPS. Equities research analysts expect that Public Storage will post $7.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, September 12th. Public Storage’s dividend payout ratio (DPR) is presently 113.96%.
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A number of brokerages have recently issued reports on PSA. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Bank of America Corporation cut their price target on Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a report on Thursday, July 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $222.00 price target on shares of Public Storage in a report on Friday, July 14th. Cantor Fitzgerald cut their price target on Public Storage from $222.00 to $216.00 and set a “neutral” rating on the stock in a report on Monday, May 22nd. Finally, BidaskClub upgraded Public Storage from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $221.64.
In other Public Storage news, insider John Reyes sold 60,000 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronald P. Spogli acquired 2,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average cost of $200.59 per share, for a total transaction of $401,180.00. The disclosure for this purchase can be found here. Corporate insiders own 14.42% of the company’s stock.
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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