Xact Kapitalforvaltning AB Sells 1,249 Shares of Public Storage (NYSE:PSA)

Xact Kapitalforvaltning AB reduced its position in shares of Public Storage (NYSE:PSA) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,364 shares of the real estate investment trust’s stock after selling 1,249 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Public Storage were worth $5,959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Burke & Herbert Bank & Trust Co. grew its stake in Public Storage by 3.5% during the first quarter. Burke & Herbert Bank & Trust Co. now owns 1,361 shares of the real estate investment trust’s stock worth $296,000 after buying an additional 46 shares in the last quarter. Trust Co. of Vermont grew its stake in Public Storage by 4.5% during the first quarter. Trust Co. of Vermont now owns 1,091 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 47 shares in the last quarter. Legacy Capital Partners Inc. boosted its stake in shares of Public Storage by 2.4% in the 1st quarter. Legacy Capital Partners Inc. now owns 2,165 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 50 shares in the last quarter. Asset Planning Services Inc. LA ADV boosted its stake in shares of Public Storage by 0.3% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,922 shares of the real estate investment trust’s stock valued at $4,121,000 after purchasing an additional 50 shares in the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Public Storage by 2.0% in the 4th quarter. Cetera Advisors LLC now owns 2,645 shares of the real estate investment trust’s stock valued at $534,000 after purchasing an additional 52 shares in the last quarter. 80.47% of the stock is currently owned by hedge funds and other institutional investors.

PSA traded down $4.30 during trading hours on Wednesday, reaching $234.12. 772,900 shares of the company’s stock traded hands, compared to its average volume of 841,925. The company’s 50-day moving average price is $236.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $41.61 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 5.59 and a beta of 0.18. Public Storage has a 52-week low of $193.89 and a 52-week high of $247.63.

Public Storage (NYSE:PSA) last announced its earnings results 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). Public Storage had a net margin of 62.54% and a return on equity of 34.73%. The firm had revenue of $689.00 million for the quarter, compared to analyst estimates of $685.75 million. During the same period in the previous year, the company earned $2.48 EPS. Public Storage’s revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Public Storage will post 10.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Tuesday, June 11th. Public Storage’s dividend payout ratio (DPR) is 75.76%.

Several equities research analysts recently commented on PSA shares. Bank of America set a $230.00 target price on shares of Public Storage and gave the stock a “hold” rating in a research report on Friday, March 1st. Barclays restated a “hold” rating and issued a $215.00 price objective on shares of Public Storage in a research note on Thursday, March 7th. Jefferies Financial Group upgraded shares of Public Storage from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $181.00 to $201.00 in a research report on Tuesday, April 9th. Argus upped their price objective on shares of Public Storage to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, ValuEngine raised Public Storage from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Public Storage presently has an average rating of “Hold” and a consensus target price of $218.22.

Public Storage Profile

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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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