Honeywell International Inc. Has $8.23 Million Position in Public Storage (NYSE:PSA)

Honeywell International Inc. trimmed its position in Public Storage (NYSE:PSA) by 8.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,561 shares of the real estate investment trust’s stock after selling 3,135 shares during the period. Public Storage makes up approximately 3.2% of Honeywell International Inc.’s portfolio, making the stock its 7th biggest position. Honeywell International Inc.’s holdings in Public Storage were worth $8,231,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. increased its position in Public Storage by 0.7% in the 1st quarter. BlackRock Inc. now owns 16,103,954 shares of the real estate investment trust’s stock valued at $3,507,120,000 after buying an additional 112,313 shares in the last quarter. Geode Capital Management LLC increased its position in Public Storage by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock valued at $497,192,000 after buying an additional 178,705 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Public Storage by 18.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,162,760 shares of the real estate investment trust’s stock valued at $515,105,000 after buying an additional 341,718 shares in the last quarter. California Public Employees Retirement System increased its position in Public Storage by 18.5% in the 1st quarter. California Public Employees Retirement System now owns 1,028,520 shares of the real estate investment trust’s stock valued at $223,991,000 after buying an additional 160,624 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Public Storage by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 987,757 shares of the real estate investment trust’s stock valued at $215,114,000 after buying an additional 35,248 shares in the last quarter. 80.53% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on PSA shares. Argus boosted their price objective on Public Storage to $240.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. KeyCorp raised Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price objective for the company in a report on Tuesday, June 11th. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating in a report on Friday, July 19th. Barclays reissued a “sell” rating and set a $218.00 price objective on shares of Public Storage in a report on Tuesday, April 16th. Finally, Jefferies Financial Group raised Public Storage from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $181.00 to $201.00 in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Public Storage currently has a consensus rating of “Hold” and a consensus target price of $222.45.

Shares of PSA opened at $249.54 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.88 and a quick ratio of 0.58. The business’s 50 day moving average is $243.49. The company has a market cap of $42.37 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 5.74 and a beta of 0.17. Public Storage has a 52 week low of $193.89 and a 52 week high of $251.37.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.87). The company had revenue of $710.95 million for 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 business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 earnings per share. On average, analysts expect that Public Storage will post 10.73 earnings per share for the current year.

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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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