Fiera Capital Corp Raises Position in Public Storage (NYSE:PSA)

Fiera Capital Corp grew its position in Public Storage (NYSE:PSA) by 569.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,395 shares of the real estate investment trust’s stock after acquiring an additional 10,543 shares during the period. Fiera Capital Corp’s holdings in Public Storage were worth $2,462,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PSA. Norges Bank purchased a new stake in shares of Public Storage in the fourth quarter valued at about $322,798,000. Cohen & Steers Inc. lifted its stake in shares of Public Storage by 28.8% in the fourth quarter. Cohen & Steers Inc. now owns 4,985,230 shares of the real estate investment trust’s stock valued at $1,061,655,000 after purchasing an additional 1,114,924 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Public Storage by 91.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,688,402 shares of the real estate investment trust’s stock valued at $335,334,000 after purchasing an additional 807,801 shares during the period. Man Group plc lifted its stake in shares of Public Storage by 2,670.8% in the fourth quarter. Man Group plc now owns 323,163 shares of the real estate investment trust’s stock valued at $68,821,000 after purchasing an additional 311,500 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Public Storage by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 3,186,810 shares of the real estate investment trust’s stock valued at $677,793,000 after purchasing an additional 235,577 shares during the period. 78.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of PSA opened at $182.77 on Friday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.49. The stock has a market cap of $31.95 billion, a P/E ratio of 24.87, a PEG ratio of 4.88 and a beta of 0.10. The company has a 50-day moving average of $190.50 and a two-hundred day moving average of $207.80. Public Storage has a 12-month low of $155.37 and a 12-month high of $266.76.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.08. The business had revenue of $716.08 million during the quarter, compared to analyst estimates of $710.00 million. Public Storage had a net margin of 52.93% and a return on equity of 30.33%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 earnings per share. As a group, analysts forecast that Public Storage will post 10.52 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, June 12th. Public Storage’s dividend payout ratio is presently 74.42%.

Several brokerages recently commented on PSA. Citigroup reduced their price objective on shares of Public Storage from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Wells Fargo & Co reduced their price objective on shares of Public Storage from $202.00 to $201.00 and set an “underweight” rating for the company in a research note on Thursday, April 2nd. BMO Capital Markets reduced their price objective on shares of Public Storage from $205.00 to $175.00 and set an “underperform” rating for the company in a research note on Friday, May 1st. Stifel Nicolaus raised their price objective on shares of Public Storage from $183.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, Bank of America upgraded shares of Public Storage from a “neutral” rating to a “buy” rating and raised their price objective for the company from $254.00 to $267.00 in a research note on Tuesday, March 24th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $222.41.

About Public Storage

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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