Atlas Brown Inc. acquired a new position in shares of Public Storage (NYSE:PSA) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 950 shares of the real estate investment trust’s stock, valued at approximately $207,000.
Other institutional investors also recently made changes to their positions in the company. Sage Capital Advisors llc purchased a new stake in shares of Public Storage in the 4th quarter valued at $29,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Public Storage by 18,823.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,180,090 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 7,142,148 shares during the period. Liberty Wealth Management LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at $37,000. CNB Bank purchased a new stake in shares of Public Storage in the 4th quarter valued at $42,000. Finally, JOYN Advisors Inc. raised its holdings in shares of Public Storage by 38.9% in the 4th quarter. JOYN Advisors Inc. now owns 243 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 80.79% of the company’s stock.
Several equities research analysts recently issued reports on PSA shares. Barclays reiterated a “hold” rating and issued a $212.00 price objective on shares of Public Storage in a report on Tuesday, February 5th. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Bank of America set a $230.00 target price on Public Storage and gave the stock a “hold” rating in a research note on Friday, March 1st. Jefferies Financial Group raised Public Storage from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $181.00 to $201.00 in a research note on Tuesday, April 9th. Finally, Argus boosted their target price on Public Storage to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $211.88.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by ($0.79). The business had revenue of $689.00 million for the quarter, compared to analyst estimates of $685.75 million. Public Storage had a return on equity of 34.56% and a net margin of 62.12%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.48 earnings per share. As a group, research analysts forecast that Public Storage will post 10.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, June 11th. This represents a $8.00 annualized dividend and a dividend yield of 3.53%. Public Storage’s dividend 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. The Company's headquarters are located in Glendale, California. At December 31, 2018, we had interests in 2,429 self-storage facilities located in 38 states with approximately 162 million net rentable square feet in the United States and we owned a 35.2% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), which owned 232 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand.
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