Rothschild Investment Corp IL decreased its position in Public Storage (NYSE:PSA) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,295 shares of the real estate investment trust’s stock after selling 550 shares during the period. Public Storage comprises approximately 1.0% of Rothschild Investment Corp IL’s portfolio, making the stock its 28th biggest holding. Rothschild Investment Corp IL’s holdings in Public Storage were worth $8,166,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. lifted its stake in Public Storage by 2.8% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,592 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 44 shares during the last quarter. Tower View Investment Management & Research LLC lifted its position in shares of Public Storage by 7.8% during the second quarter. Tower View Investment Management & Research LLC now owns 623 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 45 shares in the last quarter. 6 Meridian lifted its position in shares of Public Storage by 2.0% during the second quarter. 6 Meridian now owns 2,364 shares of the real estate investment trust’s stock worth $563,000 after acquiring an additional 46 shares in the last quarter. Advisors Capital Management LLC lifted its position in shares of Public Storage by 4.6% during the second quarter. Advisors Capital Management LLC now owns 1,087 shares of the real estate investment trust’s stock worth $259,000 after acquiring an additional 48 shares in the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of Public Storage by 1.8% during the second quarter. Cetera Advisors LLC now owns 2,717 shares of the real estate investment trust’s stock worth $645,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 80.85% of the company’s stock.
PSA has been the topic of several recent research reports. SunTrust Banks increased their target price on Public Storage from $215.00 to $233.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Citigroup increased their target price on Public Storage from $223.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Bank of America upgraded Public Storage from a “neutral” rating to a “buy” rating in a research report on Friday, July 19th. Stifel Nicolaus initiated coverage on Public Storage in a research report on Monday, August 19th. They set a “buy” rating and a $285.00 target price on the stock. Finally, Evercore ISI downgraded Public Storage from an “in-line” rating to an “underperform” rating and dropped their target price for the stock from $246.00 to $228.00 in a research report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $242.97.
In other news, Chairman B Wayne Et Al Hughes sold 200,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $263.41, for a total value of $52,682,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 278,000 shares of company stock worth $72,725,820. Insiders own 14.00% of the company’s stock.
Shares of Public Storage stock traded down $0.68 during trading on Friday, hitting $246.02. The stock had a trading volume of 23,128 shares, compared to its average volume of 992,575. The firm has a market cap of $43.09 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 5.72 and a beta of 0.11. Public Storage has a 12 month low of $193.89 and a 12 month high of $266.76. The business’s 50-day moving average is $252.60 and its 200 day moving average is $239.89. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.38.
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 consensus estimate of $2.63 by ($0.87). The firm had revenue of $710.95 million during the quarter, compared to the consensus estimate of $702.70 million. Public Storage had a return on equity of 33.78% and a net margin of 60.77%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.57 EPS. As a group, equities analysts expect that Public Storage will post 10.77 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were issued a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $8.00 annualized dividend and a dividend yield of 3.25%. Public Storage’s payout ratio is currently 75.76%.
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. 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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