Honeywell International Inc. raised its position in shares of Public Storage (NYSE:PSA) by 14.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,496 shares of the real estate investment trust’s stock after acquiring an additional 5,500 shares during the period. Honeywell International Inc.’s holdings in Public Storage were worth $9,868,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of PSA. Verity Asset Management Inc. bought a new stake in shares of Public Storage during the first quarter worth approximately $216,000. Diamond Hill Capital Management Inc. boosted its holdings in shares of Public Storage by 29.6% during the first quarter. Diamond Hill Capital Management Inc. now owns 4,007 shares of the real estate investment trust’s stock worth $803,000 after acquiring an additional 916 shares during the period. HL Financial Services LLC bought a new stake in shares of Public Storage during the first quarter worth approximately $691,000. FDx Advisors Inc. boosted its holdings in shares of Public Storage by 14.6% during the first quarter. FDx Advisors Inc. now owns 11,705 shares of the real estate investment trust’s stock worth $2,346,000 after acquiring an additional 1,489 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Public Storage by 12.9% during the first quarter. Wells Fargo & Company MN now owns 700,479 shares of the real estate investment trust’s stock worth $140,369,000 after acquiring an additional 80,252 shares during the period. Institutional investors own 82.31% of the company’s stock.
NYSE PSA opened at $222.48 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.96 and a quick ratio of 0.96. Public Storage has a 1-year low of $180.48 and a 1-year high of $234.90. The company has a market capitalization of $38.95 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 4.29 and a beta of 0.26.
Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.61). Public Storage had a net margin of 55.00% and a return on equity of 30.37%. The business had revenue of $685.50 million during the quarter, compared to analyst estimates of $686.32 million. During the same quarter in the previous year, the firm posted $2.51 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. sell-side analysts anticipate that Public Storage will post 10.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Wednesday, September 12th will be given a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.60%. Public Storage’s payout ratio is 78.20%.
A number of equities research analysts have recently issued reports on PSA shares. Argus boosted their price objective on Public Storage to $250.00 and gave the stock a “buy” rating in a report on Tuesday, July 17th. Barclays boosted their price objective on Public Storage from $205.00 to $212.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 17th. ValuEngine upgraded Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Jefferies Financial Group restated a “neutral” rating on shares of Public Storage in a report on Thursday, April 26th. Finally, Citigroup boosted their price objective on Public Storage from $200.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, July 12th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $208.33.
Public Storage Company 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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