Swiss National Bank lessened its holdings in Public Storage (NYSE:PSA) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 762,935 shares of the real estate investment trust’s stock after selling 18,200 shares during the period. Swiss National Bank’s holdings in Public Storage were worth $181,708,000 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. Envestnet Asset Management Inc. increased its position in Public Storage by 8.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 30,760 shares of the real estate investment trust’s stock worth $7,326,000 after buying an additional 2,462 shares during the period. Candriam Luxembourg S.C.A. increased its position in Public Storage by 1.5% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 13,998 shares of the real estate investment trust’s stock worth $3,319,000 after buying an additional 205 shares during the period. Sigma Planning Corp increased its position in Public Storage by 20.1% during the 2nd quarter. Sigma Planning Corp now owns 2,947 shares of the real estate investment trust’s stock worth $702,000 after buying an additional 493 shares during the period. DekaBank Deutsche Girozentrale increased its position in Public Storage by 114.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 53,736 shares of the real estate investment trust’s stock worth $12,856,000 after buying an additional 28,627 shares during the period. Finally, Advisory Services Network LLC grew its holdings in shares of Public Storage by 7.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,104 shares of the real estate investment trust’s stock worth $263,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.
Several analysts have recently issued reports on PSA shares. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating in a report on Friday, July 19th. KeyCorp raised Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 target price on the stock in a report on Tuesday, June 11th. Finally, ValuEngine raised Public Storage from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $222.45.
Shares of PSA traded down $1.17 during trading hours on Friday, hitting $258.78. 697,200 shares of the company were exchanged, compared to its average volume of 863,837. The company has a market cap of $44.63 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 5.96 and a beta of 0.17. Public Storage has a fifty-two week low of $193.89 and a fifty-two week high of $261.05. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average is $247.49 and its 200 day moving average is $228.85.
Public Storage (NYSE:PSA) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.87). The company 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% compared to the same quarter last year. During the same period last year, the company posted $2.57 earnings per share. Analysts anticipate that Public Storage will post 10.73 EPS for the current year.
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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