California State Teachers Retirement System increased its stake in Public Storage (NYSE:PSA) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 268,811 shares of the real estate investment trust’s stock after acquiring an additional 18,579 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Public Storage worth $56,181,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Public Storage by 4.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,295 shares of the real estate investment trust’s stock valued at $1,347,000 after buying an additional 254 shares in the last quarter. Morris Capital Advisors LLC grew its holdings in shares of Public Storage by 11.5% during the fourth quarter. Morris Capital Advisors LLC now owns 2,565 shares of the real estate investment trust’s stock valued at $536,000 after buying an additional 264 shares in the last quarter. Pinebridge Investments L.P. grew its holdings in shares of Public Storage by 9.6% during the third quarter. Pinebridge Investments L.P. now owns 3,083 shares of the real estate investment trust’s stock valued at $659,000 after buying an additional 270 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Public Storage by 18.1% during the fourth quarter. AE Wealth Management LLC now owns 1,812 shares of the real estate investment trust’s stock valued at $379,000 after buying an additional 278 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its holdings in shares of Public Storage by 2.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 11,960 shares of the real estate investment trust’s stock valued at $2,559,000 after buying an additional 279 shares in the last quarter. Institutional investors and hedge funds own 81.75% of the company’s stock.
In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $212.09, for a total value of $1,060,450.00. Following the completion of the sale, the director now owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 14.42% of the stock is currently owned by company insiders.
Shares of Public Storage (NYSE PSA) opened at $197.40 on Wednesday. The stock has a market capitalization of $34,360.00, a price-to-earnings ratio of 29.33, a P/E/G ratio of 3.95 and a beta of 0.31. Public Storage has a 12-month low of $180.48 and a 12-month high of $232.21.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.03. The firm had revenue of $634.22 million during the quarter, compared to analysts’ expectations of $643.46 million. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 earnings per share. equities research analysts anticipate that Public Storage will post 10.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 4.05%. Public Storage’s payout ratio is 118.87%.
Public Storage 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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