Resources Investment Advisors LLC. raised its position in Public Storage (NYSE:PSA – Get Rating) by 6.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 714 shares of the real estate investment trust’s stock after purchasing an additional 42 shares during the period. Resources Investment Advisors LLC.’s holdings in Public Storage were worth $279,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in Public Storage in the fourth quarter valued at $25,000. Mystic Asset Management Inc. purchased a new stake in shares of Public Storage in the fourth quarter valued at $26,000. Lee Financial Co purchased a new stake in shares of Public Storage in the fourth quarter valued at $27,000. Investors Research Corp lifted its position in shares of Public Storage by 102.5% in the first quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in shares of Public Storage by 119.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 92 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on PSA shares. Citigroup restated a “buy” rating and issued a $367.00 price objective on shares of Public Storage in a research report on Thursday, July 28th. UBS Group reduced their price objective on Public Storage from $390.00 to $336.00 and set a “neutral” rating on the stock in a research report on Monday, July 25th. BMO Capital Markets upgraded Public Storage from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $410.00 to $370.00 in a research report on Thursday, May 19th. Truist Financial reduced their price objective on Public Storage from $425.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Finally, StockNews.com downgraded Public Storage from a “buy” rating to a “hold” rating in a research report on Friday, June 10th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.08.
Public Storage Stock Performance
Public Storage (NYSE:PSA – Get Rating) last released 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 firm had revenue of $749.27 million during the quarter, compared to analysts’ expectations of $985.58 million. Public Storage had a return on equity of 38.01% and a net margin of 54.79%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.82 earnings per share. Equities analysts anticipate that Public Storage will post 15.56 earnings per share for the current year.
Public Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, September 14th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.42%. Public Storage’s dividend payout ratio (DPR) is 77.75%.
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 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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