Public Storage (PSA) Stake Decreased by US Bancorp DE

US Bancorp DE reduced its position in Public Storage (NYSE:PSA) by 18.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,280 shares of the real estate investment trust’s stock after selling 10,620 shares during the period. US Bancorp DE’s holdings in Public Storage were worth $10,725,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Public Storage by 14.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,962,477 shares of the real estate investment trust’s stock valued at $794,040,000 after buying an additional 507,928 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Public Storage by 1.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,331,805 shares of the real estate investment trust’s stock valued at $528,994,000 after buying an additional 22,925 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Public Storage by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,267,463 shares of the real estate investment trust’s stock valued at $454,377,000 after buying an additional 89,281 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Public Storage by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,579,391 shares of the real estate investment trust’s stock valued at $358,300,000 after buying an additional 50,027 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Public Storage by 3.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,555,567 shares of the real estate investment trust’s stock valued at $352,896,000 after buying an additional 58,486 shares in the last quarter. Institutional investors and hedge funds own 81.05% of the company’s stock.

PSA stock opened at $213.30 on Monday. The company has a market capitalization of $37.17 billion, a P/E ratio of 20.85, a P/E/G ratio of 4.09 and a beta of 0.26. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.29. Public Storage has a 52 week low of $180.48 and a 52 week high of $234.90.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.61 by ($0.61). The company had revenue of $685.50 million during the quarter, compared to analyst estimates of $686.32 million. Public Storage had a return on equity of 30.37% and a net margin of 55.00%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $2.51 earnings per share. equities research analysts forecast that Public Storage will post 10.52 EPS for the current fiscal year.

The firm 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 dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, September 11th. Public Storage’s payout ratio is 78.20%.

A number of research firms have recently weighed in on PSA. Barclays restated a “hold” rating and issued a $208.00 price target on shares of Public Storage in a report on Wednesday, August 8th. ValuEngine cut shares of Public Storage from a “hold” rating to a “sell” rating in a report on Friday, May 18th. BMO Capital Markets restated a “sell” rating and issued a $194.00 price target on shares of Public Storage in a report on Wednesday, August 1st. Citigroup raised their price target on shares of Public Storage from $200.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, July 12th. Finally, Argus lifted their target price on shares of Public Storage to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, July 17th. Seven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Public Storage presently has a consensus rating of “Hold” and an average 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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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