Public Storage (PSA) Position Held by Linscomb & Williams Inc.
Linscomb & Williams Inc. maintained its stake in shares of Public Storage (NYSE:PSA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,198 shares of the real estate investment trust’s stock at the close of the second quarter. Linscomb & Williams Inc.’s holdings in Public Storage were worth $667,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Public Storage by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,054,552 shares of the real estate investment trust’s stock worth $428,434,000 after acquiring an additional 57,277 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Public Storage by 7.6% in the 2nd quarter. Nationwide Fund Advisors now owns 118,395 shares of the real estate investment trust’s stock worth $24,689,000 after acquiring an additional 8,410 shares in the last quarter. Amalgamated Bank raised its position in shares of Public Storage by 56.1% in the 2nd quarter. Amalgamated Bank now owns 17,486 shares of the real estate investment trust’s stock worth $3,646,000 after acquiring an additional 6,283 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Public Storage by 2.5% in the 2nd quarter. California Public Employees Retirement System now owns 349,501 shares of the real estate investment trust’s stock worth $72,881,000 after acquiring an additional 8,600 shares in the last quarter. Finally, Kemper Corp Master Retirement Trust raised its position in shares of Public Storage by 15.4% in the 2nd quarter. Kemper Corp Master Retirement Trust now owns 3,370 shares of the real estate investment trust’s stock worth $703,000 after acquiring an additional 450 shares in the last quarter. 80.15% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on PSA shares. BMO Capital Markets started coverage on Public Storage in a research report on Monday, September 11th. They issued an “underperform” rating and a $193.00 price objective for the company. Zacks Investment Research lowered Public Storage from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Evercore ISI reissued an “underperform” rating and issued a $204.00 price objective (up from $197.00) on shares of Public Storage in a research report on Thursday, September 14th. Barclays PLC lowered their price objective on Public Storage from $216.00 to $209.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 18th. Finally, BidaskClub lowered Public Storage from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Public Storage presently has a consensus rating of “Hold” and a consensus target price of $214.91.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.54 by ($0.95). Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The company had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $626.27 million. During the same quarter last year, the business earned $2.40 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th were issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $8.00 annualized dividend and a yield of 3.73%. Public Storage’s dividend payout ratio (DPR) is presently 113.96%.
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In related news, Director Ronald P. Spogli acquired 2,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $200.59 per share, for a total transaction of $401,180.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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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