Family Legacy Inc. Acquires 124 Shares of Public Storage (NYSE:PSA)

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Family Legacy Inc. increased its holdings in shares of Public Storage (NYSE:PSA) by 9.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,454 shares of the real estate investment trust’s stock after acquiring an additional 124 shares during the period. Family Legacy Inc.’s holdings in Public Storage were worth $346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSA. Manchester Financial Inc. acquired a new position in Public Storage during the 2nd quarter worth $34,000. Aspire Private Capital LLC lifted its holdings in Public Storage by 232.0% during the 1st quarter. Aspire Private Capital LLC now owns 166 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 116 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings in Public Storage by 42.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 60 shares in the last quarter. Truvestments Capital LLC acquired a new position in Public Storage during the 1st quarter worth $48,000. Finally, Stuart Chaussee & Associates Inc. acquired a new position in Public Storage during the 1st quarter worth $49,000. Institutional investors and hedge funds own 80.01% of the company’s stock.

PSA stock opened at $249.54 on Monday. The company has a fifty day moving average of $243.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.58 and a current ratio of 0.88. The firm has a market cap of $43.55 billion, a P/E ratio of 23.63, a P/E/G ratio of 5.90 and a beta of 0.17. Public Storage has a twelve month low of $193.89 and a twelve month high of $251.37.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.63 by ($0.87). The company had revenue of $710.95 million during the quarter, compared to analyst estimates of $702.70 million. Public Storage had a net margin of 60.77% and a return on equity of 33.78%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $2.57 EPS. Analysts predict that Public Storage will post 10.73 EPS for the current year.

Several research analysts have issued reports on the company. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating in a report on Friday, July 19th. Jefferies Financial Group raised 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 report on Tuesday, April 9th. KeyCorp raised Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price target on the stock in a research note on Tuesday, June 11th. Argus increased their price target on Public Storage to $240.00 and gave the company a “buy” rating in a research note 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $222.45.

Public Storage Company 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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