Public Storage (PSA) Shares Bought by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. lifted its stake in shares of Public Storage (NYSE:PSA) by 0.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 796,220 shares of the real estate investment trust’s stock after acquiring an additional 5,792 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.46% of Public Storage worth $166,036,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Israel Discount Bank of New York bought a new stake in shares of Public Storage during the 1st quarter worth $100,000. Bessemer Group Inc. bought a new stake in shares of Public Storage during the 2nd quarter worth $105,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Public Storage by 15.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 75 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Public Storage by 41.3% during the 2nd quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 169 shares during the last quarter. Finally, Guardian Life Insurance Co. of America lifted its holdings in shares of Public Storage by 0.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 5 shares during the last quarter. 80.15% of the stock is owned by institutional investors.
Shares of Public Storage (NYSE PSA) traded up 0.10% during trading on Tuesday, reaching $216.07. 206,698 shares of the company were exchanged. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21. The stock’s 50 day moving average is $204.91 and its 200 day moving average is $212.46. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 30.82 and a beta of 0.42.
Public Storage (NYSE:PSA) last released 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 net margin of 53.35% and a return on equity of 27.80%. The business had revenue of $624.20 million for the quarter, compared to the consensus estimate of $626.27 million. During the same quarter last year, the business earned $2.40 EPS. Public Storage’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts anticipate that Public Storage will post $7.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.71%. Public Storage’s dividend payout ratio (DPR) is presently 113.96%.
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In other news, Director Ronald P. Spogli bought 2,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average price of $200.59 per share, for a total transaction of $401,180.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.42% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Public Storage from a “sell” rating to a “hold” rating in a report on Friday. Evercore ISI reaffirmed an “underperform” rating and set a $204.00 price objective (up from $197.00) on shares of Public Storage in a report on Thursday, September 14th. KeyCorp reaffirmed a “sell” rating and set a $184.00 price objective on shares of Public Storage in a report on Wednesday, September 13th. BMO Capital Markets assumed coverage on shares of Public Storage in a report on Monday, September 11th. They set an “underperform” rating and a $193.00 price objective for the company. Finally, Jefferies Group LLC set a $210.00 price objective on shares of Public Storage and gave the stock a “hold” rating in a report on Thursday, August 17th. Four equities 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $214.91.
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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