New Mexico Educational Retirement Board Sells 200 Shares of Public Storage (NYSE:PSA)

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New Mexico Educational Retirement Board lowered its stake in shares of Public Storage (NYSE:PSA) by 1.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,265 shares of the real estate investment trust’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Public Storage were worth $2,921,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. boosted its position in Public Storage by 0.7% during the first quarter. BlackRock Inc. now owns 16,103,954 shares of the real estate investment trust’s stock worth $3,507,120,000 after purchasing an additional 112,313 shares during the period. Geode Capital Management LLC boosted its position in Public Storage by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock worth $497,192,000 after purchasing an additional 178,705 shares during the period. Daiwa Securities Group Inc. boosted its position in Public Storage by 18.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,162,760 shares of the real estate investment trust’s stock worth $515,105,000 after purchasing an additional 341,718 shares during the period. California Public Employees Retirement System boosted its position in Public Storage by 18.5% during the first quarter. California Public Employees Retirement System now owns 1,028,520 shares of the real estate investment trust’s stock worth $223,991,000 after purchasing an additional 160,624 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Public Storage by 3.7% during the first quarter. Principal Financial Group Inc. now owns 987,757 shares of the real estate investment trust’s stock worth $215,114,000 after purchasing an additional 35,248 shares during the period. 79.24% of the stock is owned by hedge funds and other institutional investors.

Shares of PSA traded down $0.09 during mid-day trading on Thursday, hitting $260.97. The company’s stock had a trading volume of 5,595 shares, compared to its average volume of 854,492. Public Storage has a one year low of $193.89 and a one year high of $262.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $45.58 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 6.08 and a beta of 0.17. The stock’s 50-day moving average is $249.62 and its two-hundred day moving average is $229.81.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.63 by ($0.87). Public Storage had a net margin of 60.77% and a return on equity of 33.78%. The business had revenue of $710.95 million during the quarter, compared to the consensus estimate of $702.70 million. During the same period in the prior year, the company posted $2.57 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. Analysts expect that Public Storage will post 10.74 EPS for the current fiscal year.

A number of brokerages have issued reports on PSA. Bank of America raised Public Storage from a “neutral” rating to a “buy” rating in a research report on Friday, July 19th. ValuEngine raised Public Storage from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. KeyCorp raised Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price objective for the company in a research report on Tuesday, June 11th. Stifel Nicolaus started coverage on Public Storage in a research report on Monday. They issued a “buy” rating and a $285.00 price objective for the company. Finally, Robert W. Baird raised Public Storage from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $200.00 to $254.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Public Storage currently has a consensus rating of “Hold” and an average price target of $234.22.

In related news, Chairman B Wayne Et Al Hughes sold 40,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.10, for a total value of $10,244,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 14.00% of the company’s stock.

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. 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.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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