Symons Capital Management Inc. Trims Holdings in Public Storage (NYSE:PSA)

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Symons Capital Management Inc. trimmed its stake in Public Storage (NYSE:PSA) by 13.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 19,307 shares of the real estate investment trust’s stock after selling 3,054 shares during the period. Public Storage comprises 2.2% of Symons Capital Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Symons Capital Management Inc.’s holdings in Public Storage were worth $4,735,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. increased its stake in Public Storage by 2.8% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,592 shares of the real estate investment trust’s stock worth $379,000 after buying an additional 44 shares during the period. Tower View Investment Management & Research LLC increased its stake in Public Storage by 7.8% during the 2nd quarter. Tower View Investment Management & Research LLC now owns 623 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 45 shares during the period. 6 Meridian increased its stake in Public Storage by 2.0% during the 2nd quarter. 6 Meridian now owns 2,364 shares of the real estate investment trust’s stock worth $563,000 after buying an additional 46 shares during the period. Advisors Capital Management LLC increased its stake in Public Storage by 4.6% during the 2nd quarter. Advisors Capital Management LLC now owns 1,087 shares of the real estate investment trust’s stock worth $259,000 after buying an additional 48 shares during the period. Finally, Cetera Advisors LLC increased its stake in Public Storage by 1.8% during the 2nd quarter. Cetera Advisors LLC now owns 2,717 shares of the real estate investment trust’s stock worth $645,000 after buying an additional 49 shares during the period. 81.32% of the stock is currently owned by institutional investors and hedge funds.

NYSE PSA traded down $3.12 on Friday, hitting $211.35. 958,694 shares of the stock were exchanged, compared to its average volume of 874,042. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. Public Storage has a fifty-two week low of $193.89 and a fifty-two week high of $266.76. The company has a market cap of $37.59 billion, a PE ratio of 20.01, a PEG ratio of 5.08 and a beta of 0.07. The company has a 50-day moving average price of $238.33 and a 200-day moving average price of $241.81.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. Public Storage had a net margin of 60.98% and a return on equity of 33.96%. The company had revenue of $729.33 million during the quarter, compared to analysts’ expectations of $732.26 million. During the same quarter in the previous year, the business posted $1.85 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts predict that Public Storage will post 10.76 EPS for the current fiscal year.

In other Public Storage news, Chairman B Wayne Et Al Hughes sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $263.41, for a total transaction of $52,682,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.00% of the company’s stock.

PSA has been the topic of several recent research reports. Zacks Investment Research raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $255.00 target price on the stock in a research note on Friday, October 18th. Morgan Stanley raised shares of Public Storage from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $193.00 to $240.00 in a research note on Monday, September 16th. Barclays set a $256.00 target price on shares of Public Storage and gave the stock a “sell” rating in a research note on Friday, October 11th. Bank of America raised shares of Public Storage from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. Finally, Stifel Nicolaus cut their target price on shares of Public Storage from $285.00 to $266.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Public Storage has a consensus rating of “Hold” and an average target price of $245.56.

About Public Storage

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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