BB&T Investment Services Inc. lifted its holdings in shares of Public Storage (NYSE:PSA) by 42.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,456 shares of the real estate investment trust’s stock after purchasing an additional 726 shares during the quarter. BB&T Investment Services Inc.’s holdings in Public Storage were worth $518,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of PSA. Tower Research Capital LLC TRC raised its holdings in shares of Public Storage by 841.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 527 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 471 shares in the last quarter. Truewealth LLC purchased a new stake in shares of Public Storage in the fourth quarter worth $127,000. Trustcore Financial Services LLC purchased a new stake in shares of Public Storage in the fourth quarter worth $145,000. Advisory Services Network LLC grew its stake in shares of Public Storage by 184.6% in the fourth quarter. Advisory Services Network LLC now owns 942 shares of the real estate investment trust’s stock worth $197,000 after acquiring an additional 611 shares during the last quarter. Finally, Mutual Advisors LLC purchased a new stake in shares of Public Storage in the fourth quarter worth $212,000. 81.66% of the stock is owned by institutional investors.
NYSE PSA traded down $2.37 during trading hours on Thursday, reaching $196.31. The company’s stock had a trading volume of 718,174 shares, compared to its average volume of 1,029,020. The stock has a market capitalization of $34,921.39, a price-to-earnings ratio of 19.19, a PEG ratio of 3.96 and a beta of 0.28. Public Storage has a 1-year low of $180.48 and a 1-year high of $232.21.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.03. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. The company had revenue of $634.22 million during the quarter, compared to analyst estimates of $643.46 million. During the same period in the prior year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities analysts anticipate that Public Storage will post 10.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Tuesday, March 13th. Public Storage’s dividend payout ratio is presently 78.20%.
In other news, SVP Lily Yan Hughes sold 443 shares of Public Storage stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $194.53, for a total transaction of $86,176.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.00% of the stock is currently owned by insiders.
PSA has been the topic of several recent research reports. Cantor Fitzgerald set a $213.00 price objective on Public Storage and gave the stock a “hold” rating in a research note on Monday, March 12th. Zacks Investment Research downgraded Public Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Wells Fargo restated a “hold” rating and set a $210.00 price target (down previously from $225.00) on shares of Public Storage in a report on Thursday, March 15th. They noted that the move was a valuation call. Barclays reiterated a “hold” rating and issued a $201.00 target price on shares of Public Storage in a report on Wednesday, January 31st. Finally, Citigroup dropped their target price on Public Storage from $220.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, March 1st. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $204.47.
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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, 2017, we had interests in 2,386 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 222 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.
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