Epoch Investment Partners Inc. Acquires 625,297 Shares of Public Storage (PSA)
Epoch Investment Partners Inc. boosted its holdings in shares of Public Storage (NYSE:PSA) by 3,791.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 641,789 shares of the real estate investment trust’s stock after buying an additional 625,297 shares during the period. Epoch Investment Partners Inc. owned about 0.37% of Public Storage worth $133,832,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Public Storage by 3.4% during the second quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock worth $4,599,567,000 after buying an additional 727,573 shares in the last quarter. BlackRock Inc. boosted its stake in Public Storage by 3.5% during the second quarter. BlackRock Inc. now owns 14,657,306 shares of the real estate investment trust’s stock worth $3,056,489,000 after buying an additional 489,998 shares in the last quarter. APG Asset Management US Inc. boosted its stake in Public Storage by 3.3% during the second quarter. APG Asset Management US Inc. now owns 4,212,811 shares of the real estate investment trust’s stock worth $878,497,000 after buying an additional 136,388 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Public Storage by 20.5% during the second quarter. JPMorgan Chase & Co. now owns 3,161,559 shares of the real estate investment trust’s stock worth $659,280,000 after buying an additional 537,289 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Public Storage by 16.3% during the first quarter. Morgan Stanley now owns 2,751,504 shares of the real estate investment trust’s stock worth $602,333,000 after buying an additional 385,136 shares in the last quarter. Hedge funds and other institutional investors own 80.15% of the company’s stock.
Public Storage (NYSE:PSA) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.95). The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $626.27 million. Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $2.40 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.74%. 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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In other Public Storage news, Director Ronald P. Spogli acquired 2,000 shares of Public Storage stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average cost of $200.59 per share, with a total value of $401,180.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 14.42% of the company’s stock.
PSA has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. BidaskClub raised Public Storage from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Jefferies Group LLC reissued a “hold” rating and set a $222.00 price objective on shares of Public Storage in a report on Friday, July 14th. Barclays PLC cut their price objective on Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. Finally, Bank of America Corporation cut their price objective on Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a report on Thursday, July 20th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Public Storage currently has a consensus rating of “Hold” and an average price target of $214.91.
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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