Beck Mack & Oliver LLC held its stake in Public Storage (NYSE:PSA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 900 shares of the real estate investment trust’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Public Storage were worth $230,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in PSA. Washington Trust Bank raised its stake in Public Storage by 7.4% in the second quarter. Washington Trust Bank now owns 420 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 29 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Public Storage by 1.2% in the second quarter. Quadrant Capital Group LLC now owns 516 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 6 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Public Storage by 35.4% in the second quarter. Capital Advisors Ltd. LLC now owns 555 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 145 shares during the last quarter. Financial Architects Inc raised its stake in Public Storage by 398.6% in the second quarter. Financial Architects Inc now owns 733 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 586 shares during the last quarter. Finally, Steinberg Global Asset Management purchased a new stake in Public Storage during the first quarter worth $215,000. 77.99% of the stock is owned by institutional investors and hedge funds.
Shares of Public Storage (NYSE:PSA) traded down 0.26% during mid-day trading on Wednesday, reaching $215.27. 446,908 shares of the company traded hands. Public Storage has a 52-week low of $207.06 and a 52-week high of $277.60. The stock has a market capitalization of $37.33 billion, a PE ratio of 34.07 and a beta of 0.61. The stock’s 50 day moving average is $218.32 and its 200 day moving average is $242.11.
Public Storage (NYSE:PSA) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $2.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by $0.06. The business earned $634.20 million during the quarter, compared to the consensus estimate of $607.28 million. Public Storage had a net margin of 52.53% and a return on equity of 25.44%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.17 EPS. On average, analysts anticipate that Public Storage will post $9.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th were issued a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Monday, September 12th. Public Storage’s dividend payout ratio (DPR) is presently 113.92%.
A number of research firms recently weighed in on PSA. Zacks Investment Research lowered shares of Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday. FBR & Co reaffirmed a “marketperform” rating and set a $250.00 price target on shares of Public Storage in a report on Wednesday, June 22nd. KeyCorp lowered shares of Public Storage from a “sector weight” rating to an “underweight” rating and set a $230.00 price target for the company. in a report on Friday, July 15th. Evercore ISI raised shares of Public Storage from a “sell” rating to a “hold” rating and set a $228.00 price target for the company in a report on Monday, August 22nd. Finally, Bank of America Corp. downgraded shares of Public Storage from a “buy” rating to a “neutral” rating in a research note on Thursday, August 11th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $244.38.
In other Public Storage news, insider John Reyes sold 30,000 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $215.41, for a total value of $6,462,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 14.20% of the stock is currently owned by company insiders.
Public Storage Company Profile
Public Storage is a real estate investment trust. The Company’s 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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