Public Storage (PSA) Shares Sold by IFC Holdings Incorporated FL
IFC Holdings Incorporated FL reduced its position in shares of Public Storage (NYSE:PSA) by 45.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,171 shares of the real estate investment trust’s stock after selling 988 shares during the period. IFC Holdings Incorporated FL’s holdings in Public Storage were worth $247,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nationwide Fund Advisors raised its stake in shares of Public Storage by 2.1% in the first quarter. Nationwide Fund Advisors now owns 109,985 shares of the real estate investment trust’s stock worth $24,077,000 after buying an additional 2,224 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Public Storage by 83.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 200,903 shares of the real estate investment trust’s stock worth $43,979,000 after buying an additional 91,451 shares during the last quarter. Mason Street Advisors LLC raised its stake in shares of Public Storage by 1.1% in the first quarter. Mason Street Advisors LLC now owns 20,636 shares of the real estate investment trust’s stock worth $4,517,000 after buying an additional 232 shares during the last quarter. Loudon Investment Management LLC raised its stake in shares of Public Storage by 25.5% in the first quarter. Loudon Investment Management LLC now owns 6,135 shares of the real estate investment trust’s stock worth $1,343,000 after buying an additional 1,247 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Public Storage by 11.0% in the first quarter. US Bancorp DE now owns 42,455 shares of the real estate investment trust’s stock worth $9,294,000 after buying an additional 4,220 shares during the last quarter. Hedge funds and other institutional investors own 78.47% of the company’s stock.
Shares of Public Storage (NYSE:PSA) opened at 201.58 on Wednesday. The company has a 50-day moving average of $205.09 and a 200-day moving average of $214.86. The company has a market capitalization of $35.08 billion, a PE ratio of 28.76 and a beta of 0.41. Public Storage has a one year low of $192.15 and a one year high of $233.39.
Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by $0.95. The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $2.40 EPS. On average, analysts anticipate that Public Storage will post $7.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Tuesday, September 12th. Public Storage’s dividend payout ratio is currently 113.96%.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Public Storage from a “hold” rating to a “sell” rating in a research report on Friday, May 12th. 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 report on Tuesday, July 18th. BidaskClub raised Public Storage from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Argus lowered their price objective on Public Storage from $260.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $222.00 price objective on shares of Public Storage in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, nine have given 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 $221.64.
In other Public Storage news, insider John Reyes sold 60,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total value of $12,426,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald P. Spogli acquired 2,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $200.59 per share, with a total value of $401,180.00. The disclosure for this purchase can be found here. Insiders own 14.42% of the company’s stock.
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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