Westpac Banking Corp increased its position in shares of Public Storage (NYSE:PSA) by 113.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,091 shares of the real estate investment trust’s stock after acquiring an additional 58,553 shares during the period. Westpac Banking Corp owned about 0.06% of Public Storage worth $26,220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Public Storage by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock worth $497,192,000 after acquiring an additional 178,705 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of Public Storage in the 4th quarter worth approximately $230,000. Calamos Advisors LLC lifted its holdings in shares of Public Storage by 1.0% in the 1st quarter. Calamos Advisors LLC now owns 23,510 shares of the real estate investment trust’s stock worth $5,120,000 after acquiring an additional 233 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Public Storage in the 1st quarter worth approximately $48,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Public Storage in the 1st quarter worth approximately $408,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:PSA traded down $0.82 during midday trading on Tuesday, reaching $257.87. 33,385 shares of the stock traded hands, compared to its average volume of 824,899. The business has a fifty day moving average of $245.78. Public Storage has a 12 month low of $193.89 and a 12 month high of $259.29. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $44.88 billion, a PE ratio of 24.43, a P/E/G ratio of 6.07 and a beta of 0.17.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.63 by ($0.87). The company had revenue of $710.95 million for the quarter, compared to analysts’ expectations of $702.70 million. Public Storage had a net margin of 60.77% and a return on equity of 33.78%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 earnings per share. As a group, analysts forecast that Public Storage will post 10.73 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on PSA shares. KeyCorp upgraded shares of Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price target for the company in a report on Tuesday, June 11th. Bank of America upgraded shares of Public Storage from a “neutral” rating to a “buy” rating in a report on Friday, July 19th. Barclays reiterated a “sell” rating and set a $218.00 price target on shares of Public Storage in a report on Tuesday, April 16th. Finally, ValuEngine upgraded shares of Public Storage from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $222.45.

In other Public Storage news, Chairman B Wayne Et Al Hughes sold 40,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $256.10, for a total transaction of $10,244,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 14.00% of the stock is currently owned by insiders.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.

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

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