Tdam USA Inc. Acquires 60 Shares of Public Storage (NYSE:PSA)

Tdam USA Inc. grew its holdings in Public Storage (NYSE:PSA) by 2.7% in the 2nd quarter, Holdings Channel reports. The fund owned 2,267 shares of the real estate investment trust’s stock after purchasing an additional 60 shares during the quarter. Tdam USA Inc.’s holdings in Public Storage were worth $540,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. grew its holdings in shares of Public Storage by 190.7% during the first quarter. Daiwa Securities Group Inc. now owns 1,821,042 shares of the real estate investment trust’s stock worth $396,586,000 after buying an additional 1,194,522 shares in the last quarter. Centersquare Investment Management LLC lifted its position in shares of Public Storage by 98.4% in the first quarter. Centersquare Investment Management LLC now owns 913,756 shares of the real estate investment trust’s stock valued at $198,998,000 after buying an additional 453,207 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Public Storage by 289.4% in the first quarter. Janus Henderson Group PLC now owns 528,671 shares of the real estate investment trust’s stock valued at $115,135,000 after buying an additional 392,914 shares during the last quarter. Pennsylvania Trust Co acquired a new stake in shares of Public Storage in the first quarter valued at approximately $2,596,000. Finally, Geode Capital Management LLC lifted its position in shares of Public Storage by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock valued at $497,192,000 after buying an additional 178,705 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

In related news, Chairman B Wayne Et Al Hughes sold 38,000 shares of Public Storage stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $257.89, for a total transaction of $9,799,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.00% of the company’s stock.

NYSE:PSA traded up $3.84 during mid-day trading on Thursday, hitting $259.48. 4,464 shares of the stock were exchanged, compared to its average volume of 828,005. The stock has a market cap of $45.17 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 6.11 and a beta of 0.17. The stock’s 50-day moving average price is $246.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.88 and a quick ratio of 0.88. Public Storage has a fifty-two week low of $193.89 and a fifty-two week high of $260.17.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.63 by ($0.87). The firm had revenue of $710.95 million for the quarter, compared to analyst estimates of $702.70 million. Public Storage had a return on equity of 33.78% and a net margin of 60.77%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.57 earnings per share. As a group, equities analysts anticipate that Public Storage will post 10.73 EPS for the current fiscal year.

A number of analysts have recently issued reports on PSA shares. KeyCorp raised Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price objective for the company in a research report on Tuesday, June 11th. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine raised Public Storage from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $222.45.

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 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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