Public Storage $PSA Shares Newly Purchased by Peak Financial Advisors LLC

Peak Financial Advisors LLC bought a new stake in Public Storage (NYSE:PSA) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,597 shares of the real estate investment trust’s stock, valued at approximately $452,000.

A number of other hedge funds have also recently made changes to their positions in PSA. Bruce G. Allen Investments LLC grew its holdings in shares of Public Storage by 89.6% during the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Continuum Advisory LLC acquired a new position in shares of Public Storage in the second quarter valued at approximately $29,000. William Mack & Associates Inc. acquired a new position in shares of Public Storage in the third quarter valued at approximately $35,000. Meeder Asset Management Inc. bought a new position in Public Storage in the 2nd quarter valued at approximately $36,000. Finally, Knuff & Co LLC bought a new position in Public Storage in the 2nd quarter valued at approximately $46,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Up 2.5%

NYSE PSA opened at $324.95 on Friday. The firm has a market capitalization of $60.71 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 4.73 and a beta of 0.94. The business’s 50-day moving average price is $298.85 and its two-hundred day moving average price is $302.79. The company has a current ratio of 1.00, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business earned $4.31 earnings per share. Public Storage’s revenue was up .5% compared to the same quarter last year. On average, analysts expect that Public Storage will post 16.95 EPS for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th were issued a $3.00 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s dividend payout ratio is presently 125.65%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PSA has been the topic of several recent research reports. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday. Mizuho upped their price target on shares of Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. decreased their price target on shares of Public Storage from $338.00 to $330.00 and set a “neutral” rating for the company in a research report on Monday, September 21st. Royal Bank Of Canada raised their price target on shares of Public Storage from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Scotiabank cut their price target on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $323.68.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.