Sei Investments Co. raised its stake in Public Storage (NYSE:PSA) by 20.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 264,726 shares of the real estate investment trust’s stock after buying an additional 44,035 shares during the period. Sei Investments Co. owned 0.15% of Public Storage worth $57,951,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of PSA. Brookfield Asset Management Inc. acquired a new stake in shares of Public Storage during the fourth quarter valued at approximately $103,852,000. Nationwide Fund Advisors increased its stake in Public Storage by 2.1% in the first quarter. Nationwide Fund Advisors now owns 109,985 shares of the real estate investment trust’s stock valued at $24,077,000 after buying an additional 2,224 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Public Storage by 83.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 200,903 shares of the real estate investment trust’s stock valued at $43,979,000 after buying an additional 91,451 shares in the last quarter. Symons Capital Management Inc. purchased a new stake in Public Storage during the fourth quarter valued at about $18,784,000. Finally, Loudon Investment Management LLC increased its stake in Public Storage by 25.5% in the first quarter. Loudon Investment Management LLC now owns 6,135 shares of the real estate investment trust’s stock valued at $1,343,000 after buying an additional 1,247 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Public Storage (NYSE PSA) traded up 0.46% during trading on Friday, hitting $213.66. The stock had a trading volume of 943,787 shares. Public Storage has a 1-year low of $200.65 and a 1-year high of $260.83. The firm has a 50-day moving average of $211.09 and a 200 day moving average of $218.50. The company has a market capitalization of $37.14 billion, a P/E ratio of 30.35 and a beta of 0.45.
Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $2.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.42 by $0.05. Public Storage had a return on equity of 27.74% and a net margin of 54.13%. The business had revenue of $645.55 million during the quarter, compared to analyst estimates of $615.23 million. During the same quarter in the prior year, the company earned $2.21 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts predict that Public Storage will post $7.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Wednesday, June 14th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, June 12th. This represents a $8.00 annualized dividend and a yield of 3.74%. Public Storage’s dividend payout ratio (DPR) is 113.64%.
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Several research firms have issued reports on PSA. BidaskClub raised Public Storage from a “strong sell” rating to a “sell” rating in a research note on Friday. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. Cantor Fitzgerald dropped their price target on Public Storage from $222.00 to $216.00 and set a “neutral” rating on the stock in a research note on Monday, May 22nd. Barclays PLC lifted their price target on Public Storage from $222.00 to $224.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $210.00 price target on shares of Public Storage in a research note on Wednesday, March 22nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $227.80.
In other Public Storage news, insider John Reyes sold 65,000 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $208.44, for a total value of $13,548,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.42% of the company’s stock.
Public Storage Company Profile
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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