BNP Paribas Arbitrage SA boosted its position in shares of Public Storage (NYSE:PSA) by 105.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,901 shares of the real estate investment trust’s stock after buying an additional 35,288 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Public Storage were worth $13,807,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Public Storage by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,267,463 shares of the real estate investment trust’s stock worth $454,377,000 after acquiring an additional 89,281 shares during the period. IFM Investors Pty Ltd raised its holdings in Public Storage by 10.6% in the first quarter. IFM Investors Pty Ltd now owns 4,882 shares of the real estate investment trust’s stock worth $978,000 after purchasing an additional 467 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in Public Storage by 1.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 24,620 shares of the real estate investment trust’s stock worth $4,934,000 after purchasing an additional 300 shares in the last quarter. Norinchukin Bank The raised its holdings in Public Storage by 24.4% in the first quarter. Norinchukin Bank The now owns 14,884 shares of the real estate investment trust’s stock worth $2,983,000 after purchasing an additional 2,917 shares in the last quarter. Finally, First Personal Financial Services raised its holdings in Public Storage by 448.2% in the first quarter. First Personal Financial Services now owns 16,829 shares of the real estate investment trust’s stock worth $3,373,000 after purchasing an additional 13,759 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.
Shares of PSA opened at $214.46 on Friday. The firm has a market capitalization of $37.74 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 4.09 and a beta of 0.30. Public Storage has a 52-week low of $180.48 and a 52-week high of $219.93.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.02). Public Storage had a return on equity of 27.68% and a net margin of 50.72%. The business had revenue of $669.90 million for the quarter, compared to analyst estimates of $598.28 million. During the same period in the previous year, the business posted $2.37 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. sell-side analysts anticipate that Public Storage will post 10.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Wednesday, June 13th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Tuesday, June 12th. Public Storage’s dividend payout ratio (DPR) is 78.20%.
Several equities analysts have recently issued reports on PSA shares. Morgan Stanley cut their price objective on shares of Public Storage from $199.00 to $193.00 and set an “underweight” rating on the stock in a report on Thursday. Cantor Fitzgerald reiterated a “hold” rating and issued a $213.00 target price on shares of Public Storage in a research report on Wednesday, February 21st. Barclays reiterated a “hold” rating and issued a $203.00 target price on shares of Public Storage in a research report on Tuesday, April 17th. ValuEngine upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Finally, Wells Fargo & Co restated a “hold” rating and issued a $210.00 price objective (down previously from $225.00) on shares of Public Storage in a research report on Thursday, March 15th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $204.20.
Public Storage Profile
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 March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 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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