Two Sigma Advisers LP lowered its stake in Public Storage (NYSE:PSA) by 94.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,537 shares of the real estate investment trust’s stock after selling 154,100 shares during the period. Two Sigma Advisers LP’s holdings in Public Storage were worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Heitman Real Estate Securities LLC acquired a new stake in Public Storage in the 4th quarter valued at about $44,390,000. Teachers Insurance & Annuity Association of America raised its position in Public Storage by 9.7% in the 4th quarter. Teachers Insurance & Annuity Association of America now owns 161,952 shares of the real estate investment trust’s stock valued at $33,848,000 after purchasing an additional 14,361 shares in the last quarter. Guggenheim Capital LLC raised its position in Public Storage by 16.0% in the 4th quarter. Guggenheim Capital LLC now owns 194,768 shares of the real estate investment trust’s stock valued at $40,707,000 after purchasing an additional 26,833 shares in the last quarter. QS Investors LLC raised its position in Public Storage by 3.4% in the 4th quarter. QS Investors LLC now owns 11,710 shares of the real estate investment trust’s stock valued at $2,447,000 after purchasing an additional 385 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Public Storage in the 4th quarter valued at about $1,592,000. 81.66% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on PSA. KeyCorp set a $179.00 price target on Public Storage and gave the company a “sell” rating in a research report on Thursday, March 15th. Morgan Stanley lowered Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 target price on the stock. in a research report on Wednesday, December 13th. Wells Fargo reissued a “hold” rating and set a $210.00 target price (down previously from $225.00) on shares of Public Storage in a research report on Thursday, March 15th. They noted that the move was a valuation call. Citigroup cut their target price on Public Storage from $220.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, March 1st. Finally, Barclays reissued a “hold” rating and set a $201.00 target price on shares of Public Storage in a research report on Wednesday, January 31st. Seven analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $204.47.
Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.03. The firm had revenue of $634.22 million for the quarter, compared to the consensus estimate of $643.46 million. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.03 EPS. research analysts forecast that Public Storage will post 10.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Wednesday, March 14th were paid a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 4.01%. Public Storage’s dividend payout ratio is presently 78.20%.
In related news, SVP Lily Yan Hughes sold 443 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $194.53, for a total transaction of $86,176.79. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 14.00% of the company’s stock.
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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. The Company's headquarters are located in Glendale, California. At December 31, 2017, we had interests in 2,386 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 222 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.
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