V Wealth Advisors LLC Makes New $246,000 Investment in Public Storage (NYSE:PSA)

V Wealth Advisors LLC bought a new position in shares of Public Storage (NYSE:PSA) during the second quarter, HoldingsChannel.com reports. The firm bought 1,285 shares of the real estate investment trust’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mastrapasqua Asset Management Inc. raised its position in shares of Public Storage by 14.6% during the second quarter. Mastrapasqua Asset Management Inc. now owns 2,513 shares of the real estate investment trust’s stock valued at $482,000 after buying an additional 320 shares during the last quarter. First Quadrant L P CA bought a new stake in shares of Public Storage during the second quarter valued at approximately $486,000. CIBC Asset Management Inc raised its position in shares of Public Storage by 222.6% during the second quarter. CIBC Asset Management Inc now owns 60,234 shares of the real estate investment trust’s stock valued at $11,558,000 after buying an additional 41,562 shares during the last quarter. Raymond James & Associates raised its position in shares of Public Storage by 57.5% during the second quarter. Raymond James & Associates now owns 27,852 shares of the real estate investment trust’s stock valued at $5,344,000 after buying an additional 10,166 shares during the last quarter. Finally, Middleton & Co Inc MA bought a new stake in shares of Public Storage during the second quarter valued at approximately $553,000. Institutional investors own 79.64% of the company’s stock.

In other news, insider Nathaniel A. Vitan sold 269 shares of Public Storage stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $200.18, for a total transaction of $53,848.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.78% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on the stock. Citigroup reduced their price objective on shares of Public Storage from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Stifel Nicolaus lifted their price objective on shares of Public Storage from $183.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Morgan Stanley lifted their price objective on shares of Public Storage from $159.00 to $177.00 and gave the company an “underweight” rating in a research report on Wednesday, July 8th. Wells Fargo & Co cut their target price on shares of Public Storage from $201.00 to $200.00 and set an “underweight” rating for the company in a report on Friday, June 19th. Finally, Argus lowered shares of Public Storage from a “buy” rating to a “hold” rating in a report on Friday, June 19th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $221.43.

NYSE PSA opened at $199.88 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $193.14 and a two-hundred day moving average of $201.88. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 5.58 and a beta of 0.12. Public Storage has a 52 week low of $155.37 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $1.71 by $0.08. The company 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%. Public Storage’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 earnings per share. Equities research analysts anticipate that Public Storage will post 10.45 EPS for the current year.

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.

Featured Story: Retained Earnings

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA).

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

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.