Maryland State Retirement & Pension System boosted its holdings in Public Storage (NYSE:PSA – Get Rating) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,662 shares of the real estate investment trust’s stock after acquiring an additional 170 shares during the period. Maryland State Retirement & Pension System’s holdings in Public Storage were worth $4,551,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of PSA. OLD Mission Capital LLC bought a new position in Public Storage during the 3rd quarter worth $5,722,000. MML Investors Services LLC increased its position in Public Storage by 5.2% during the 3rd quarter. MML Investors Services LLC now owns 2,455 shares of the real estate investment trust’s stock worth $729,000 after buying an additional 122 shares during the period. LPL Financial LLC increased its position in Public Storage by 6.4% during the 3rd quarter. LPL Financial LLC now owns 57,182 shares of the real estate investment trust’s stock worth $16,989,000 after buying an additional 3,451 shares during the period. Verition Fund Management LLC bought a new position in Public Storage during the 3rd quarter worth $227,000. Finally, UBS Group AG increased its position in Public Storage by 43.8% during the 3rd quarter. UBS Group AG now owns 173,733 shares of the real estate investment trust’s stock worth $51,616,000 after buying an additional 52,889 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.
A number of research analysts recently commented on PSA shares. The Goldman Sachs Group raised their price target on Public Storage from $398.00 to $440.00 and gave the stock a “neutral” rating in a research report on Thursday, April 14th. Raymond James decreased their price target on Public Storage from $375.00 to $365.00 in a research report on Monday, May 23rd. BMO Capital Markets upgraded Public Storage from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $410.00 to $370.00 in a research report on Thursday, May 19th. JPMorgan Chase & Co. raised their price objective on Public Storage from $385.00 to $434.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Finally, StockNews.com lowered Public Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $372.00.
Public Storage (NYSE:PSA – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.96). The company had revenue of $749.27 million during the quarter, compared to analyst estimates of $985.58 million. Public Storage had a return on equity of 38.01% and a net margin of 54.79%. Public Storage’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 earnings per share. Equities analysts anticipate that Public Storage will post 15.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $8.00 dividend on an annualized basis and a yield of 2.65%. Public Storage’s payout ratio is currently 77.75%.
Public Storage Profile (Get Rating)
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 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 September 30, 2020.
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