Traders Sell Public Storage (PSA) on Strength (PSA)
Investors sold shares of Public Storage (NYSE:PSA) on strength during trading hours on Tuesday. $38.19 million flowed into the stock on the tick-up and $57.43 million flowed out of the stock on the tick-down, for a money net flow of $19.24 million out of the stock. Of all stocks tracked, Public Storage had the 0th highest net out-flow for the day. Public Storage traded up $0.77 for the day and closed at $216.84
Several equities research analysts have issued reports on the stock. KeyCorp decreased their price objective on shares of Public Storage from $220.00 to $205.00 and set an “underweight” rating for the company in a research note on Monday, September 12th. Cantor Fitzgerald reissued a “hold” rating on shares of Public Storage in a research report on Friday, August 26th. Evercore ISI raised shares of Public Storage from a “sell” rating to a “hold” rating and set a $228.00 target price on the stock in a research report on Monday, August 22nd. Bank of America Corp. cut shares of Public Storage from a “buy” rating to a “neutral” rating in a research report on Thursday, August 11th. Finally, Jefferies Group reduced their target price on shares of Public Storage from $270.00 to $245.00 and set a “hold” rating on the stock in a research report on Wednesday, August 10th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $243.24.
The company has a 50-day moving average of $225.11 and a 200-day moving average of $248.78. The stock has a market capitalization of $37.60 billion, a price-to-earnings ratio of 34.32 and a beta of 0.68.
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Public Storage (NYSE:PSA) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $2.34 EPS for the quarter, missing the consensus estimate of $2.40 by $0.06. Public Storage had a net margin of 52.53% and a return on equity of 25.44%. The company had revenue of $634.20 million for the quarter, compared to analyst estimates of $607.28 million. During the same quarter last year, the business earned $2.17 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts expect that Public Storage will post $9.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be issued a dividend of $1.80 per share. The ex-dividend date is Monday, September 12th. This represents a $7.20 annualized dividend and a yield of 3.32%. Public Storage’s dividend payout ratio (DPR) is presently 113.92%.
In other Public Storage news, insider John Reyes sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $215.41, for a total transaction of $6,462,300.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 14.20% of the company’s stock.
Several large investors have recently made changes to their positions in PSA. Washington Trust Bank increased its stake in shares of Public Storage by 7.4% in the second quarter. Washington Trust Bank now owns 420 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 29 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Public Storage by 23.4% in the second quarter. Global X Management Co. LLC now owns 501 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 95 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Public Storage by 1.2% in the second quarter. Quadrant Capital Group LLC now owns 516 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 6 shares during the last quarter. WFG Advisors LP increased its stake in shares of Public Storage by 0.6% in the second quarter. WFG Advisors LP now owns 520 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 3 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Public Storage by 35.4% in the second quarter. Capital Advisors Ltd. LLC now owns 555 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds own 78.78% of the company’s stock.
Public Storage Company Profile
Public Storage is a real estate investment trust. The Company’s 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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