Swiss National Bank grew its stake in shares of Public Storage (NYSE:PSA) by 3.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 771,735 shares of the real estate investment trust’s stock after buying an additional 27,100 shares during the period. Swiss National Bank’s holdings in Public Storage were worth $175,076,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Norinchukin Bank The lifted its holdings in Public Storage by 24.4% in the 1st 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. Toronto Dominion Bank lifted its holdings in Public Storage by 32.0% in the 1st quarter. Toronto Dominion Bank now owns 85,630 shares of the real estate investment trust’s stock worth $17,156,000 after purchasing an additional 20,749 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Public Storage by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 985,884 shares of the real estate investment trust’s stock worth $197,562,000 after purchasing an additional 20,722 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in Public Storage by 3.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 29,827 shares of the real estate investment trust’s stock worth $6,767,000 after purchasing an additional 905 shares in the last quarter. Finally, Cincinnati Insurance Co. lifted its holdings in Public Storage by 35.2% in the 1st quarter. Cincinnati Insurance Co. now owns 96,000 shares of the real estate investment trust’s stock worth $19,237,000 after purchasing an additional 25,000 shares in the last quarter. 82.31% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PSA opened at $220.86 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.96 and a current 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 price-to-earnings ratio of 21.59, a PEG ratio of 4.29 and a beta of 0.26.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.61 by ($0.61). Public Storage had a return on equity of 30.37% and a net margin of 55.00%. The firm had revenue of $685.50 million during the quarter, compared to the consensus estimate of $686.32 million. During the same period in the previous year, the firm earned $2.51 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. equities analysts expect that Public Storage will post 10.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Wednesday, September 12th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, September 11th. Public Storage’s payout ratio is 78.20%.
A number of research firms recently commented on PSA. Barclays reissued a “hold” rating and issued a $208.00 price target on shares of Public Storage in a report on Wednesday, August 8th. Goldman Sachs Group cut Public Storage from a “neutral” rating to a “sell” rating in a report on Wednesday. ValuEngine cut Public Storage from a “hold” rating to a “sell” rating in a report on Friday, May 18th. BMO Capital Markets reissued a “sell” rating and issued a $194.00 price target on shares of Public Storage in a report on Wednesday, August 1st. Finally, Citigroup boosted their price target on Public Storage from $200.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, July 12th. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $208.33.
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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