Public Storage $PSA Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in Public Storage (NYSE:PSA) by 21.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 90,277 shares of the real estate investment trust’s stock after selling 25,041 shares during the period. Federated Hermes Inc. owned 0.05% of Public Storage worth $26,077,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanderbilt University boosted its holdings in shares of Public Storage by 103.1% in the 3rd quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock valued at $2,632,000 after buying an additional 4,626 shares during the period. Clear Creek Financial Management LLC bought a new stake in shares of Public Storage in the 2nd quarter worth approximately $342,000. Carnegie Investment Counsel boosted its position in Public Storage by 23.0% during the 3rd quarter. Carnegie Investment Counsel now owns 112,769 shares of the real estate investment trust’s stock valued at $32,573,000 after purchasing an additional 21,073 shares during the period. Resona Asset Management Co. Ltd. grew its stake in Public Storage by 6.6% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 94,990 shares of the real estate investment trust’s stock worth $27,415,000 after buying an additional 5,861 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Public Storage by 32.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,045 shares of the real estate investment trust’s stock worth $5,212,000 after buying an additional 4,420 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $275.91 on Friday. Public Storage has a twelve month low of $256.54 and a twelve month high of $322.49. The business has a 50 day moving average price of $272.40 and a 200 day moving average price of $281.96. The company has a market cap of $48.41 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 7.22 and a beta of 1.01. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping the consensus estimate of $4.24 by $0.07. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the business earned $4.20 earnings per share. Public Storage’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts predict that Public Storage will post 16.7 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on PSA. Barclays set a $331.00 target price on shares of Public Storage in a research note on Tuesday, January 13th. The Goldman Sachs Group decreased their price objective on Public Storage from $332.00 to $321.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Thursday, January 22nd. Morgan Stanley assumed coverage on Public Storage in a research note on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price target for the company. Finally, BMO Capital Markets cut their price objective on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $313.19.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.