DekaBank Deutsche Girozentrale grew its holdings in Public Storage (NYSE:PSA) by 28.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,109 shares of the real estate investment trust’s stock after acquiring an additional 5,548 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Public Storage were worth $5,452,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Mid Atlantic Financial Management Inc. ADV grew its holdings in Public Storage by 28.4% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 1,596 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 353 shares in the last quarter. Shell Asset Management Co. lifted its stake in shares of Public Storage by 0.4% in the 1st quarter. Shell Asset Management Co. now owns 65,369 shares of the real estate investment trust’s stock valued at $14,236,000 after purchasing an additional 277 shares during the last quarter. Creative Planning lifted its stake in shares of Public Storage by 4.5% in the 4th quarter. Creative Planning now owns 9,095 shares of the real estate investment trust’s stock valued at $1,841,000 after purchasing an additional 395 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Public Storage by 11.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 50,005 shares of the real estate investment trust’s stock valued at $10,890,000 after purchasing an additional 5,142 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Public Storage by 2.0% in the 4th quarter. BlackRock Inc. now owns 15,991,641 shares of the real estate investment trust’s stock valued at $3,236,867,000 after purchasing an additional 317,340 shares during the last quarter. 80.47% of the stock is owned by hedge funds and other institutional investors.
PSA traded down $4.30 during mid-day trading on Wednesday, hitting $234.12. 772,900 shares of the stock were exchanged, compared to its average volume of 841,925. The firm’s fifty day moving average price is $235.92. Public Storage has a 1-year low of $193.89 and a 1-year high of $247.63. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. The company has a market cap of $41.61 billion, a P/E ratio of 22.17, a PEG ratio of 5.59 and a beta of 0.18.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.79). The business had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $685.75 million. Public Storage had a net margin of 62.54% and a return on equity of 34.73%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.48 EPS. Sell-side analysts anticipate that Public Storage will post 10.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.42%. The ex-dividend date is Tuesday, June 11th. Public Storage’s payout ratio is 75.76%.
PSA has been the topic of several recent analyst reports. Barclays reaffirmed a “hold” rating and issued a $215.00 price target on shares of Public Storage in a research note on Thursday, March 7th. Bank of America set a $230.00 target price on Public Storage and gave the stock a “hold” rating in a research note on Friday, March 1st. Argus increased their target price on Public Storage to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. ValuEngine raised Public Storage from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Finally, Jefferies Financial Group raised Public Storage from an “underperform” rating to a “hold” rating and increased their target price for the stock from $181.00 to $201.00 in a research note on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Public Storage has an average rating of “Hold” and an average target price of $218.22.
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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