Public Storage (PSA) Shares Bought by Stifel Financial Corp
Stifel Financial Corp grew its holdings in shares of Public Storage (NYSE:PSA) by 91.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,282 shares of the real estate investment trust’s stock after buying an additional 12,995 shares during the period. Stifel Financial Corp’s holdings in Public Storage were worth $5,668,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of PSA. BlackRock Inc. boosted its holdings in shares of Public Storage by 2,552.4% during the 1st quarter. BlackRock Inc. now owns 14,167,308 shares of the real estate investment trust’s stock worth $3,101,367,000 after buying an additional 13,633,185 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Public Storage by 3.4% during the 2nd 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. Massachusetts Financial Services Co. MA boosted its holdings in shares of Public Storage by 87.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,477,786 shares of the real estate investment trust’s stock worth $323,502,000 after buying an additional 688,042 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Public Storage by 3,791.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 641,789 shares of the real estate investment trust’s stock worth $133,832,000 after buying an additional 625,297 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Public Storage by 20.5% during the 2nd 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. Hedge funds and other institutional investors own 80.15% of the company’s stock.
In other news, Director Ronald P. Spogli purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average cost of $200.59 per share, for a total transaction of $401,180.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.42% of the company’s stock.
A number of equities analysts have issued reports on the company. BMO Capital Markets assumed coverage on Public Storage in a report on Monday, September 11th. They set an “underperform” rating and a $193.00 price target on the stock. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded Public Storage from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Evercore ISI restated an “underperform” rating and set a $204.00 price target (up from $197.00) on shares of Public Storage in a report on Thursday, September 14th. Finally, Jefferies Group LLC restated a “hold” rating and set a $222.00 price target on shares of Public Storage in a report on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $214.91.
Public Storage (NYSE PSA) opened at 213.42 on Friday. The company has a market capitalization of $37.14 billion, a PE ratio of 30.45 and a beta of 0.44. Public Storage has a one year low of $192.15 and a one year high of $232.21. The company has a 50 day moving average price of $210.07 and a 200-day moving average price of $211.70.
Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.54 by ($0.95). Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $626.27 million. During the same quarter in the prior year, the firm earned $2.40 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts expect that Public Storage will post $7.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Wednesday, September 13th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.75%. Public Storage’s dividend payout ratio is presently 113.96%.
Public Storage 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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