Global Retirement Partners LLC trimmed its holdings in shares of Public Storage (NYSE:PSA) by 9.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,004 shares of the real estate investment trust’s stock after selling 204 shares during the quarter. Global Retirement Partners LLC’s holdings in Public Storage were worth $436,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Sage Capital Advisors llc bought a new position in Public Storage during the 4th quarter valued at $29,000. Oregon Public Employees Retirement Fund lifted its stake in Public Storage by 18,823.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,180,090 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 7,142,148 shares in the last quarter. Liberty Wealth Management LLC bought a new position in Public Storage during the 4th quarter valued at $37,000. CNB Bank bought a new position in Public Storage during the 4th quarter valued at $42,000. Finally, Cornerstone Advisors Inc. lifted its stake in Public Storage by 42.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 81.14% of the company’s stock.
Several equities analysts have weighed in on the company. Barclays restated a “sell” rating and set a $218.00 price objective on shares of Public Storage in a research note on Tuesday, April 16th. Jefferies Financial Group upgraded Public Storage from an “underperform” rating to a “hold” rating and raised their price objective for the company from $181.00 to $201.00 in a research note on Tuesday, April 9th. Argus raised their price objective on Public Storage to $240.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Zacks Investment Research cut Public Storage from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. Finally, Bank of America set a $230.00 price objective on Public Storage and gave the company a “hold” rating in a research note on Friday, March 1st. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $211.88.
Shares of Public Storage stock opened at $229.12 on Friday. Public Storage has a 1 year low of $193.89 and a 1 year high of $234.90. The firm has a market cap of $39.87 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 5.33 and a beta of 0.26. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.28.
Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, May 1st. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.52 by ($0.79). Public Storage had a net margin of 62.54% and a return on equity of 34.73%. The business had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $685.75 million. During the same period in the prior year, the business earned $2.48 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts expect that Public Storage will post 10.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Tuesday, June 11th. Public Storage’s dividend payout ratio is presently 75.76%.
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. 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.
Further Reading: Derivative
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