Dupont Capital Management Corp trimmed its position in Public Storage (NYSE:PSA) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,565 shares of the real estate investment trust’s stock after selling 3,019 shares during the quarter. Dupont Capital Management Corp’s holdings in Public Storage were worth $5,961,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new stake in Public Storage during the 3rd quarter worth $1,477,000. Los Angeles Capital Management & Equity Research Inc. grew its position in Public Storage by 25.6% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 47,027 shares of the real estate investment trust’s stock worth $9,482,000 after purchasing an additional 9,590 shares during the last quarter. Gulf International Bank UK Ltd grew its position in Public Storage by 8.5% during the 3rd quarter. Gulf International Bank UK Ltd now owns 54,590 shares of the real estate investment trust’s stock worth $11,006,000 after purchasing an additional 4,297 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its position in Public Storage by 2.0% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 25,120 shares of the real estate investment trust’s stock worth $5,065,000 after purchasing an additional 500 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Public Storage by 58.5% during the 3rd quarter. American Century Companies Inc. now owns 377,845 shares of the real estate investment trust’s stock worth $76,185,000 after purchasing an additional 139,483 shares during the last quarter. Institutional investors and hedge funds own 81.51% of the company’s stock.
Several brokerages have issued reports on PSA. Barclays reissued a “hold” rating and set a $208.00 price objective on shares of Public Storage in a research report on Wednesday, August 8th. Argus raised their price objective on shares of Public Storage to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Evercore ISI downgraded shares of Public Storage from an “in-line” rating to an “underperform” rating and set a $217.00 price objective on the stock. in a research report on Monday, July 16th. They noted that the move was a valuation call. BMO Capital Markets reissued a “sell” rating and set a $194.00 price objective on shares of Public Storage in a research report on Wednesday, August 1st. Finally, Citigroup lowered their price objective on shares of Public Storage from $235.00 to $202.00 and set a “hold” rating on the stock in a research report on Friday, October 5th. Seven analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $205.54.
Shares of Public Storage stock opened at $206.35 on Friday. Public Storage has a 1 year low of $180.48 and a 1 year high of $234.90. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.29. The firm has a market cap of $35.34 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 4.01 and a beta of 0.13.
Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.85. The business had revenue of $706.37 million for the quarter, compared to the consensus estimate of $704.51 million. Public Storage had a net margin of 55.38% and a return on equity of 30.87%. During the same quarter in the previous year, the firm earned $1.61 earnings per share. On average, research analysts forecast that Public Storage will post 10.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Wednesday, December 12th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Tuesday, December 11th. Public Storage’s payout ratio is 78.20%.
In other news, CEO Ronald L. Havner, Jr. sold 100,000 shares of Public Storage stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $211.54, for a total value of $21,154,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $203.35, for a total transaction of $1,016,750.00. Following the completion of the sale, the director now directly owns 8,350 shares in the company, valued at approximately $1,697,972.50. The disclosure for this sale can be found here. 14.00% of the stock is owned by insiders.
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About Public Storage
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. The Company's headquarters are located in Glendale, California. At June 30, 2018, we had interests in 2,402 self-storage facilities located in 38 states with approximately 160 million net rentable square feet in the United States and 228 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the Shurgard brand.
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