Cbre Clarion Securities LLC Reduces Stock Holdings in Public Storage (NYSE:PSA)

Cbre Clarion Securities LLC reduced its holdings in Public Storage (NYSE:PSA) by 0.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,635 shares of the real estate investment trust’s stock after selling 140 shares during the period. Cbre Clarion Securities LLC owned about 0.08% of Public Storage worth $34,950,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ellevest Inc. boosted its holdings in Public Storage by 80.0% during the fourth quarter. Ellevest Inc. now owns 108 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 48 shares in the last quarter. IronBridge Private Wealth LLC purchased a new stake in Public Storage during the fourth quarter worth $27,000. Arkadios Wealth Advisors boosted its holdings in Public Storage by 373.1% during the first quarter. Arkadios Wealth Advisors now owns 123 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 97 shares in the last quarter. Childress Capital Advisors LLC purchased a new stake in Public Storage during the fourth quarter worth $42,000. Finally, Glassman Wealth Services boosted its holdings in Public Storage by 62.5% during the first quarter. Glassman Wealth Services now owns 169 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 65 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Public Storage from $285.00 to $300.00 and gave the stock a “market perform” rating in a report on Monday, May 3rd. Truist increased their price target on shares of Public Storage from $269.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, May 17th. They noted that the move was a valuation call. Truist Securities upped their price objective on shares of Public Storage from $269.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, May 17th. Wells Fargo & Company upped their price objective on shares of Public Storage from $200.00 to $228.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 2nd. Finally, Morgan Stanley upped their price objective on shares of Public Storage from $231.00 to $266.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $258.14.

NYSE:PSA traded down $0.12 during trading hours on Friday, reaching $295.35. 4,259 shares of the company were exchanged, compared to its average volume of 780,600. The stock has a 50-day moving average of $275.10. The firm has a market cap of $51.68 billion, a price-to-earnings ratio of 44.10, a PEG ratio of 4.01 and a beta of 0.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.43 and a current ratio of 0.43. Public Storage has a twelve month low of $183.22 and a twelve month high of $295.92.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, April 28th. The real estate investment trust reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.49). The business had revenue of $647.80 million during the quarter, compared to analyst estimates of $753.27 million. Public Storage had a net margin of 43.22% and a return on equity of 27.74%. Public Storage’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. As a group, research analysts anticipate that Public Storage will post 11.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, June 14th. Public Storage’s dividend payout ratio (DPR) is 75.40%.

In other news, VP Nathaniel A. Vitan sold 4,000 shares of the stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $293.10, for a total value of $1,172,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.87% of the stock is owned by corporate insiders.

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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 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 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the ÂShurgard 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 September 30, 2020.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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