Cetera Investment Advisers Purchases 15,134 Shares of Public Storage $PSA

Cetera Investment Advisers boosted its position in Public Storage (NYSE:PSA) by 21.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,334 shares of the real estate investment trust’s stock after buying an additional 15,134 shares during the period. Cetera Investment Advisers’ holdings in Public Storage were worth $23,386,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PSA. Vanguard Group Inc. lifted its stake in shares of Public Storage by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after purchasing an additional 2,274,397 shares during the period. Norges Bank acquired a new stake in Public Storage during the fourth quarter worth approximately $1,163,751,000. Capital International Investors grew its stake in Public Storage by 821.4% during the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares during the period. Geode Capital Management LLC increased its holdings in Public Storage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after purchasing an additional 66,445 shares in the last quarter. Finally, Cohen & Steers Inc. increased its holdings in Public Storage by 9.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after purchasing an additional 339,882 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.2%

Shares of Public Storage stock opened at $323.05 on Monday. The stock has a market capitalization of $56.71 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 4.34 and a beta of 0.96. Public Storage has a 52 week low of $256.54 and a 52 week high of $331.79. The stock has a 50 day moving average price of $315.35 and a two-hundred day moving average price of $300.14. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm earned $4.12 earnings per share. Public Storage’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities analysts anticipate that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, June 15th. Public Storage’s payout ratio is 123.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BNP Paribas Exane increased their price target on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. Scotiabank lifted their price objective on shares of Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. BMO Capital Markets boosted their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Finally, Mizuho lifted their price target on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $325.37.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.10% of the company’s stock.

Public Storage 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.