Texas Yale Capital Corp. Reduces Stock Holdings in Public Storage (NYSE:PSA)

Texas Yale Capital Corp. decreased its position in Public Storage (NYSE:PSA) by 53.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,159 shares of the real estate investment trust’s stock after selling 8,265 shares during the period. Texas Yale Capital Corp.’s holdings in Public Storage were worth $1,705,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PSA. BlackRock Inc. raised its holdings in Public Storage by 0.7% during 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 acquiring an additional 112,313 shares during the period. Geode Capital Management LLC increased its holdings in shares of Public Storage by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock worth $497,192,000 after purchasing an additional 178,705 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Public Storage by 18.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,162,760 shares of the real estate investment trust’s stock worth $515,105,000 after purchasing an additional 341,718 shares during the period. California Public Employees Retirement System increased its holdings in shares of Public Storage by 18.5% in the first quarter. California Public Employees Retirement System now owns 1,028,520 shares of the real estate investment trust’s stock worth $223,991,000 after purchasing an additional 160,624 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Public Storage by 3.7% in the first quarter. Principal Financial Group Inc. now owns 987,757 shares of the real estate investment trust’s stock worth $215,114,000 after purchasing an additional 35,248 shares during the period. Institutional investors and hedge funds own 80.01% of the company’s stock.

PSA traded down $3.08 during trading on Monday, reaching $246.46. The stock had a trading volume of 290,052 shares, compared to its average volume of 791,365. The stock has a market capitalization of $43.55 billion, a PE ratio of 23.34, a PEG ratio of 5.90 and a beta of 0.17. The company has a current ratio of 0.88, a quick ratio of 0.58 and a debt-to-equity ratio of 0.38. Public Storage has a one year low of $193.89 and a one year high of $251.37. The firm’s 50-day moving average is $243.49.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.87). Public Storage had a net margin of 60.77% and a return on equity of 33.78%. The business had revenue of $710.95 million for the quarter, compared to analysts’ expectations of $702.70 million. During the same quarter in the previous year, the company earned $2.57 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts forecast that Public Storage will post 10.73 earnings per share for the current fiscal year.

PSA has been the topic of several research analyst reports. Jefferies Financial Group raised shares of Public Storage from an “underperform” rating to a “hold” rating and upped their price target for the stock from $181.00 to $201.00 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 target price on the stock in a research note on Tuesday, June 11th. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. Barclays reissued a “sell” rating and issued a $218.00 target price on shares of Public Storage in a research note on Tuesday, April 16th. Finally, Argus increased their target price on Public Storage to $240.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $222.45.

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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