Alliancebernstein L.P. decreased its holdings in shares of Public Storage (NYSE:PSA) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 426,820 shares of the real estate investment trust’s stock after selling 9,544 shares during the period. Alliancebernstein L.P.’s holdings in Public Storage were worth $89,205,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nationwide Fund Advisors raised its position in Public Storage by 5.7% during the third quarter. Nationwide Fund Advisors now owns 125,152 shares of the real estate investment trust’s stock worth $26,781,000 after acquiring an additional 6,757 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Public Storage by 13.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 38,507 shares of the real estate investment trust’s stock worth $8,240,000 after acquiring an additional 4,491 shares in the last quarter. American Century Companies Inc. raised its position in Public Storage by 119.6% during the third quarter. American Century Companies Inc. now owns 114,174 shares of the real estate investment trust’s stock worth $24,432,000 after acquiring an additional 62,175 shares in the last quarter. Bradley Foster & Sargent Inc. CT bought a new stake in Public Storage during the third quarter worth $301,000. Finally, Candriam Luxembourg S.C.A. raised its position in Public Storage by 2.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 11,960 shares of the real estate investment trust’s stock worth $2,559,000 after acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 81.02% of the company’s stock.
Several research firms have issued reports on PSA. Jefferies Group set a $199.00 price target on shares of Public Storage and gave the stock a “hold” rating in a research report on Monday, March 5th. Citigroup dropped their price target on shares of Public Storage from $220.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, March 1st. Bank of America raised shares of Public Storage from an “underperform” rating to a “neutral” rating and set a $212.00 price target on the stock in a research report on Tuesday, February 27th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $213.00 price target on shares of Public Storage in a research report on Wednesday, February 21st. Finally, BMO Capital Markets set a $185.00 price target on shares of Public Storage and gave the stock a “sell” rating in a research report on Tuesday, February 20th. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $204.43.
Public Storage (NYSE PSA) opened at $199.96 on Friday. The firm has a market cap of $34,800.00, a PE ratio of 29.71, a PEG ratio of 3.91 and a beta of 0.31. Public Storage has a 1 year low of $180.48 and a 1 year high of $232.21.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.72 by $0.03. The company had revenue of $634.22 million for the quarter, compared to analyst estimates of $643.46 million. Public Storage had a net margin of 51.16% and a return on equity of 27.48%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.03 earnings per share. equities analysts anticipate that Public Storage will post 10.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Tuesday, March 13th. Public Storage’s payout ratio is presently 118.87%.
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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